SAN DIEGO (AP) — SAN DIEGO (AP) — Encore Capital Group Inc. (ECPG) on Wednesday reported first-quarter profit of $46.8 million.
On a per-share basis, the San Diego-based company said it had net income of $1.93.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.24 per share.
The provider of debt-management and recovery services posted revenue of $392.8 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $372.4 million.
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