NORFOLK, Va. (AP) — NORFOLK, Va. (AP) — PRA Group Inc. (PRAA) on Monday reported a loss of $407.7 million in its third quarter.
On a per-share basis, the Norfolk, Virginia-based company said it had a loss of $10.43. Earnings, adjusted for asset impairment costs, were 53 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 50 cents per share.
The debt collector posted revenue of $311.1 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $297.2 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 PRAA at https://www.zacks.com/ap/PRAA
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