First American Financial Corp. Q2 Profit Decreases, But Beats Estimates

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

The company's earnings came in at $116.0 million, or $1.11 per share. This compares with $138.5 million, or $1.33 per share, in last year's second quarter.

Excluding items, First American Financial Corp. reported adjusted earnings of $132.5 million or $1.27 per share for the period.

Analysts on average had expected the company to earn $1.16 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.4% to $1.61 billion from $1.65 billion last year.

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

-Earnings (Q2): $116.0 Mln. vs. $138.5 Mln. last year. -EPS (Q2): $1.11 vs. $1.33 last year. -Revenue (Q2): $1.61 Bln vs. $1.65 Bln last year.