Altisource Announces Second Quarter 2020 Financial Results

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Go back to Altisource Announces Second Quarter 2020 Financial Results

Altisource Asset Management Corp (ASPS) Misses Q1 EPS by 19c, Revenues Beat

August 6, 2020 7:48 AM EDT

Altisource Asset Management Corp (NASDAQ: ASPS) reported Q1 EPS of ($0.76), $0.19 worse than the analyst estimate of ($0.57). Revenue for the quarter came in at $91 million versus the consensus estimate of $76.12 million.

Second Quarter 2020 Financial Results

Second quarter 2020 service revenue of $91.0 million was 52% lower than the second quarter 2019 primarily from the 2019 sale, discontinuation and exit from certain businesses (resulting in a 33% decline in service revenue), including the July 1, 2019 sale of the Financial Services Business, lower REALServicing revenue from Ocwens migration to another servicing system, the discontinuation of the Buy-Renovate-Lease-Sell (BRS) business and the... More