AP NEWS

Tree.com: 3Q Earnings Snapshot

October 30, 2019

CHARLOTTE, N.C. (AP) _ Tree.com Inc. (TREE) on Wednesday reported third-quarter earnings of $4.3 million.

The Charlotte, North Carolina-based company said it had net income of 29 cents per share. Earnings, adjusted for one-time gains and costs, were $2.25 per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.67 per share.

The mortgage lending service provider posted revenue of $310.6 million in the period, which also topped Street forecasts. Five analysts surveyed by Zacks expected $295.2 million.

Tree.com expects full-year revenue in the range of $1.1 billion to $1.12 billion.

Tree.com shares have risen 44% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $315.62, a rise of 62% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TREE at https://www.zacks.com/ap/TREE