LendingTree tops 2Q profit forecasts


CHARLOTTE, N.C. (AP) — LendingTree Inc. (TREE) on Thursday reported second-quarter profit of $7.9 million.

On a per-share basis, the Charlotte, North Carolina-based company said it had profit of 62 cents. Earnings, adjusted for stock option expense and to account for discontinued operations, came to 92 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 70 cents per share.

The mortgage lending service provider posted revenue of $94.3 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $94.5 million.

For the current quarter ending in October, LendingTree said it expects revenue in the range of $96 million to $99 million.

The company expects full-year revenue in the range of $380 million to $390 million.

In morning trading, LendingTree shares rose 5 percent, or $4.66, to $100.16.

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Elements of this story were generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TREE at http://www.zacks.com/ap/TREE

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Keywords: LendingTree Inc., Earnings Report

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This story has been corrected to show that the company changed its name in January to LendingTree Inc.

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