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Ellie Mae net earnings fall 26%

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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.

Source: MarketWatch
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