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Fair Issac Corp.’s Earnings Top Wall Street Estimates
The 70-year-old company is best known for its FICO Score, the standard measure of consumer credit risk used by banks, mortgage lenders, and other financial institutions in the U.S.
Total revenue for the three months ended Sept. 30 came in at $389.7 million U.S. compared with $348.7 million U.S. a year earlier.
The company reported that revenue in its “scores” business unit rose 12% from a year earlier to $195.6 million U.S. in the most recent quarter, boosted by price increases.
Revenue from the software unit, which sells analytics and data technologies to businesses, increased 11% to $194.2 million U.S. from $174.7 million U.S. a year earlier.
On the bottom line, the company reported net income of $101.4 million U.S., or $4.01 U.S. per share, compared with $90.7 million U.S., or $3.55 U.S. a share, a year earlier.
Fair Isaac’s stock has gained 59% on the year and currently trades at $940.43 U.S. per share.
