PHH Q3 Loss From Cont. Ops. Widens - Quick Facts

(RTTNews) - PHH Corporation (PHH) reported that its third-quarter loss from continuing operations, net of tax, widened to $85 million or $1.64 per share from a loss of $63 million or $1.19 per share, a year ago. Net income attributable to PHH Corporation was $215 million or $4.00 per basic share, including a gain from the sale of discontinued operations of $303 million, net of tax. Core loss (after-tax) and core loss per share, which exclude a $40 million pre-tax unfavorable market-related MSR fair-value adjustment, were $64 million and $1.19, respectively, for the quarter.

On average, seven analysts polled by Thomson Reuters expected the company to report a loss per share of $0.27 for the quarter. Analysts' estimates typically exclude special items.

Net revenues decreased to $152 million from $211 million, a year ago. Analysts expected revenue of $193.17 million for the quarter.