CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Tree.com Inc. (TREE) on Tuesday reported first-quarter profit of $1 million.
On a per-share basis, the Charlotte, North Carolina-based company said it had net income of 8 cents. Earnings, adjusted for stock option expense and asset impairment costs, were 70 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The mortgage lending service provider posted revenue of $167.8 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $164 million.
For the current quarter ending in June, Tree.com said it expects revenue in the range of $175 million to $190 million.
The company expects full-year revenue in the range of $690 million to $720 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TREE at https://www.zacks.com/ap/TREE
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