Altisource Portfolio Services Reports Q3 Non-GAAP EPS and Revenue Misses
Altisource Portfolio Services (ASPS) reported third-quarter financial results that fell short of market expectations. The company posted a Non-GAAP earnings per share (EPS) of $0.13, missing estimates by $0.05. Additionally, quarterly revenue reached $49.8 million, which was an 18.8% increase year-over-year but missed consensus projections by approximately $0.8 million. Despite the misses in top and bottom lines, Altisource saw growth in its operational efficiency. Adjusted EBITDA for the third quarter rose to $4.3 million, representing a 17% increase ($0.6 million) compared to the same period in the previous year.
Tickers: $ASPS
Topics: earnings miss EBITDA revenue growth