SAN DIEGO (AP) — SAN DIEGO (AP) — Encore Capital Group Inc. (ECPG) on Wednesday reported a loss of $225.3 million in its fourth quarter.
The San Diego-based company said it had a loss of $9.42 per share. Earnings, adjusted for non-recurring costs, were $1.50 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.55 per share.
The provider of debt-management and recovery services posted revenue of $265.6 million in the period, also missing Street forecasts. Four analysts surveyed by Zacks expected $373.7 million.
For the year, the company reported a loss of $139.2 million, or $5.83 per share. Revenue was reported as $1.32 billion.
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