ATLANTA – Credit bureau Equifax said yesterday that third quarters grew 17% to $77.9 million, fueled by stronger revenue in its consumer-information business.
Third-quarter revenue grew 11% to $543.9 million, which mortgage activity remaining strong, though most of the company's growth is coming from other sources, including its strategic initiatives and new product innovations.
Richard Smith, Equifax's president, said he expects the mortgage market to remain strong the next few quarters. "I am also optimistic that the momentum we have established will continue as we move into 2013," he stated.
Four of the Equifax's largest businesses — U.S. Consumer, International, Workforce Solutions and North America Personal Solutions — each posted revenue growth during the quarter.
Equifax's mortgage business, part of its U.S. Consumer segment, saw the biggest revenue gain — an increase of 35% to $43.4 million.
For the first three quarters of the year Equifax reported a 10% rise in revenues to $1.6 billion, and a 40% boost in net income to $232.2 million.