August 4, 2010 / 10:22 PM / 7 years ago

UPDATE 1-Home Capital Q2 EPS beats estimates by a cent

* Q2 EPS C$1.25 vs est EPS est C$1.24

* Net interest income up 25 pct

Aug 4 (Reuters) - Canadian mortgage lender Home Capital Group Inc HCG.TO posted quarterly profit that marginally beat estimates, boosted by a 25 percent increase in net interest income.

The company, which mainly underwrites residential mortgages, reported net income for the second quarter of C$43.4 million, or C$1.25 per share, compared with net income of C$34.4 million, or 99 Canadian cents a share, a year earlier.

Analysts on average were expecting the company to earn C$1.24 per share, according to Thomson Reuters I/B/E/S. Net interest income, after the provision for credit losses, was up 25.3 percent to $46.9 million in the second quarter.

Shares of the company closed at C$46.25 Wednesday on the Toronto Stock Exchange. (Reporting by Arnika Thakur in Bangalore; Editing by Aradhana Aravindan)

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below