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NORFOLK, Va. (AP) _ PRA Group Inc. (PRAA) on Thursday reported second-quarter net income of $56 million.
The Norfolk, Virginia-based company said it had profit of $1.22 per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 76 cents per share.
The debt collector posted revenue of $285.6 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $258.2 million.
Insight by ProPricer: During this webinar James Woolsey, the president of the Defense Acquisition University, Frank Kelley, the vice president of the Defense Acquisition University and Michelle Currier, the professor of contract management at the Defense Acquisition University, will discuss the future of DoD contracting, pricing and acquisition. In addition, Michael Weaver, the professor of contract management at ProPricer will provide an industry perspective.
PRA Group shares have dropped nearly 3% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $38.59, a decrease of nearly 8% in the last 12 months.
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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