| In the interest of speed and timeliness, this story is fed directly from the Associated Press newswire and may contain spelling or grammatical errors. |
E-Loan raises second-quarter earnings outlook
Monday June 16, 2003DUBLIN, Calif. (Dow Jones/AP) Online lending company E-Loan Inc. Monday raised its second-quarter earnings outlook to 10 cents or 11 cents a share, on revenue of about $42 million.
In April, the company said it expected second-quarter earnings of 8 cents a share on revenue of about $39.5 million.
The Dublin-based company said the moves were ``based on strong growth in our diversified product revenue comprised of purchase and nonprime mortgage, home equity and auto loans and the ongoing favorable refinance environment.''
For the full year, E-Loan now expects earnings of 35 cents a share, on revenue of about $155 million.
The company's April forecast called for 2003 earnings of 27 cents a share on revenue of $144 million.
E-Loan shares traded at $6.08, up 59 cents, or 11 percent, midday Monday on the Nasdaq Stock Market.
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