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Tree.com beats Street 3Q forecasts

CHARLOTTE, N.C. (AP) _ Tree.com Inc. (TREE) on Thursday reported third-quarter earnings of $9.1 million.

On a per-share basis, the Charlotte, North Carolina-based company said it had net income of 66 cents. Earnings, adjusted for one-time gains and costs, came to $1.17 per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 92 cents per share.

The mortgage lending service provider posted revenue of $171.5 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $158.2 million.

For the current quarter ending in December, Tree.com said it expects revenue in the range of $146 million to $151 million.

The company expects full-year revenue in the range of $603 million to $608 million.

Tree.com shares have more than doubled since the beginning of the year. The stock has more than doubled in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TREE at https://www.zacks.com/ap/TREE


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