PRA Group: 1Q Earnings Snapshot

NORFOLK, Va. (AP) _ PRA Group Inc. (PRAA) on Thursday reported first-quarter net income of $19.1 million.

The Norfolk, Virginia-based company said it had net income of 42 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 31 cents per share.

The debt collector posted revenue of $251.8 million in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $245.6 million.

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PRA Group shares have dropped 28% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $26.03, a drop of 7% 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 PRAA at https://www.zacks.com/ap/PRAA

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