PRA Group: 2Q Earnings Snapshot
NORFOLK, Va. (AP) _ PRA Group Inc. (PRAA) on Tuesday reported second-quarter net income of $19.6 million.
On a per-share basis, the Norfolk, Virginia-based company said it had net income of 43 cents.
The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The debt collector posted revenue of $221.5 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $214.2 million.
PRA Group shares have increased 20 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $39.70, an increase of nearly 2 percent in the last 12 months.