Altisource reports Q2 adjusted EPS 88c, consensus 89c
Reports Q2 service revenue $238.1M, consensus $233.7M. The company said, "Compared to the second quarter of 2016, diluted earnings per share and adjusted diluted earnings per share decreased 53% and 44%, respectively. These declines were driven by higher investments to support the Company's growth initiatives and service revenue mix changes. Revenue mix changes were the result of growth in the lower margin property preservation and buy-renovate-sell businesses and revenue declines in other higher margin businesses. Diluted earnings per share and adjusted diluted earnings per share were further impacted by a higher effective tax rate in the second quarter of 2017 compared to the second quarter of 2016."