Why TransUnion Stock Dropped 33% This Week

Shares of TransUnion (NYSE: TRU) plunged 33.1% this week, according to data provided by S&P Global Market Intelligence, after the consumer credit reporting agency announced weak third-quarter results and lowered its annual outlook.

TransUnion's third-quarter 2023 revenue grew 3.3% year over year to $968.7 million, translating to adjusted (non-GAAP) earnings of $177 million, or $0.91 per share (down from $0.93 per share a year earlier). Analysts, on average, were expecting higher adjusted earnings of $0.94 per share on revenue of $982.6 million.

TransUnion CEO Chris Cartwright insisted the company "executed well against weakening lending and marketing activity over the course of the quarter," noting that its U.S. markets segment continued to grow thanks to high-single-digit gains at Neustar. International segment revenue also increased in the double-digit percent range, with solid growth in India, Canada, and the Asia-Pacific region.

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Source Fool.com