AUSTIN, Texas (AP) — AUSTIN, Texas (AP) — Open Lending Corporation (LPRO) on Tuesday reported first-quarter earnings of $12.5 million.
On a per-share basis, the Austin, Texas-based company said it had profit of 10 cents.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 7 cents per share.
The company posted revenue of $38.4 million in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $31.8 million.
For the current quarter ending in June, Open Lending said it expects revenue in the range of $33 million to $37 million.
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