First American Financial Corp. Q2 Profit Decreases, but beats estimates

(RTTNews) - First American Financial Corp. (FAF) revealed earnings for second quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled $109 million, or $1.01 per share. This compares with $302 million, or $2.72 per share, in last year's second quarter.

Excluding items, First American Financial Corp. reported adjusted earnings of $1.97 per share for the period.

Analysts on average had expected the company to earn $1.63 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 9.0% to $2.062 billion from $2.266 billion last year.

First American Financial Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $109 Mln. vs. $302 Mln. last year. -EPS (Q2): $1.01 vs. $2.72 last year. -Analyst Estimates: $1.63 -Revenue (Q2): $2.062 Bln vs. $2.266 Bln last year.