Altisource Portfolio Solutions (ASPS) Reports Q3 EPS of 90c

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Go back to Altisource Portfolio Solutions (ASPS) Reports Q3 EPS of 90c

Altisource Announces Third Quarter Results

October 27, 2016 8:18 AM EDT

LUXEMBOURG, Oct. 27, 2016 (GLOBE NEWSWIRE) -- Altisource Portfolio Solutions S.A. (Altisource or the Company) (NASDAQ: ASPS) today reported financial results for the third quarter of 2016, reporting strong cash flows from operations and service revenue.  Service revenue growth from non-Ocwen customers and higher property preservation referrals from Ocwen largely offset the expected loss in revenue from Ocwens declining portfolio and lower delinquencies, resulting in a decline of only 2% compared to the third quarter of 2015.

While third quarter 2016 service revenue of $239.8 million was relatively flat compared to third quarter 2015, pretax income attributable to Altisource(1) of $17.9... More