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In the interest of speed and timeliness, this story is fed directly from the Associated Press newswire and may contain spelling or grammatical errors.
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E-Loan raises second-quarter earnings outlook
Monday June 16, 2003
DUBLIN, Calif. (Dow Jones/AP) Online lending company E-Loan
Inc. Monday raised its second-quarter earnings outlook to 10 cents
or 11 cents a share, on revenue of about $42 million.
In April, the company said it expected second-quarter earnings
of 8 cents a share on revenue of about $39.5 million.
The Dublin-based company said the moves were ``based on strong
growth in our diversified product revenue comprised of purchase
and nonprime mortgage, home equity and auto loans and the ongoing
favorable refinance environment.''
For the full year, E-Loan now expects earnings of 35 cents a
share, on revenue of about $155 million.
The company's April forecast called for 2003 earnings of 27
cents a share on revenue of $144 million.
E-Loan shares traded at $6.08, up 59 cents, or 11 percent,
midday Monday on the Nasdaq Stock Market.
(Copyright 2003 by The Associated Press. All Rights Reserved.)
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