Ellie Mae net earnings fall 26%
Ellie Mae’s (ELLI) second quarter earnings dropped 26% as the maker of mortgage origination software posted higher expenses, covering revenue growth, an article in MarketWatch said.
Ellie Mae raised its full-year outlook, now seeing adjusted per-share earnings of $1.08 to $1.11 a share on revenue of $131 million to $132.5 million. The company previously projected earnings of $1.06 to $1.09 a share on revenue of $130 million to $131.5 million. However, the company expects its stock-compensation expenses to be higher than originally anticipated due to performance bonuses and new hiring.