Equifax reports Q3 earnings
Equifax came out with its third quarter earnings this week. The data company reported revenue of $492.5 million for the period - an increase of 25% over last year.
Earnings per share for this quarter were $0.48, showing a drop from last year's $0.61, but core businesses continued to grow by 7%. Equifax North America Commercial Solutions, North America Personal Solutions and International arms all reported double-digit growth.
The company attributes 18% of its revenue growth to its acquisition of TALX in May of this year. Total revenue for TALX was $70.4 million.
Net income for the company was down 14%, to $67.9 million, from third quarter last year. Excluding the impact of a lawsuit and tax benefit, however, net income actually increased by 2%.
Equifax repurchased 11.1 million of its common shares, at a total price of $441.6 million, this quarter. It plans to repurchase $700 million of its shares by the end of the year and is already at the $620.9 million mark.
Based in Atlanta, GA, Equifax Inc. specializes in information services, employment and income verification and the outsourcing of human resources work. The company also provides advanced analytics.