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Tree.com: 1Q Earnings Snapshot

May 5, 2020 GMT

CHARLOTTE, N.C. (AP) _ Tree.com Inc. (TREE) on Tuesday reported first-quarter net income of $14.4 million, after reporting a loss in the same period a year earlier.

The Charlotte, North Carolina-based company said it had net income of $1.02 per share. Earnings, adjusted for one-time gains and costs, came to $1.20 per share.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.09 per share.

The mortgage lending service provider posted revenue of $283.1 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $282.5 million.

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For the current quarter ending in July, Tree.com said it expects revenue in the range of $160 million to $175 million.

Tree.com shares have declined 19% since the beginning of the year. The stock has decreased 36% 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

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