Altisource Portfolio Solutions (ASPS) Tops Q2 EPS by 11c

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Go back to Altisource Portfolio Solutions (ASPS) Tops Q2 EPS by 11c

Altisource Announces Second Quarter Financial Results and Attractive Client Wins

July 26, 2018 7:14 AM EDT

LUXEMBOURG, July 26, 2018 (GLOBE NEWSWIRE) -- Altisource Portfolio Solutions S.A. (Altisource or the Company) (NASDAQ: ASPS) today reported financial results for the second quarter 2018.

Second quarter service revenue of $208.9 million increased by 11% compared to the first quarter of 2018, driven by growth in the buy-renovate-lease-sell, Hubzu® and property preservation and inspection businesses.  Second quarter 2018 service revenue was 12% lower than the second quarter of 2017 primarily from the reduction in size of the Ocwen Financial Corporation (Ocwen) servicing portfolio resulting from loan repayments, loan modifications, short sales, REO sales and other forms of resolution... More