Real estate data and mortgage tech provider CoreLogic (CLGX) rose from a loss to a profit in the third-quarter as mortgage origination services pushed overall revenue up by 17.6%.
Revenue for the period reached $409.8 million, creating a quarter where the Irvine, Calif.-based company could easily turn a profit.
Income from the third quarter hit $36.2 million, or 35 cents a share, up from a net loss of $2.9 million, or 3 cents a share, a year earlier.
Analysts with Stephens Inc. expect CoreLogic stock to remain strong and say they still like the company for its ability to make strong cost cuts and operational improvements. Yet, the research firm is balancing out that optimism with “cyclical headwinds” that could derail revenue growth next year.
The firm bumped CoreLogic from overweight to equal-weight.
