PRA Group (NASDAQ: PRAA) isn't a household name among most investors, but it's found a niche that has been lucrative over time. As a leading player in the debt collection industry, PRA Group aims to make it easier for businesses that are having challenges collecting from customers, by offering them cash and then taking responsibility for the cumbersome task of going through the collection process.
Coming into Thursday's second-quarter financial report, PRA Group investors wanted to see higher levels of activity but didn't necessarily expect to avoid further sluggishness on the earnings front. PRA's income levels did decline somewhat, but the company has redoubled its efforts and has made a commitment to taking full advantage of debt collection opportunities across the globe.
PRA Group's second-quarter results showed the fruits of the debt collector's labor. Revenue of $252.1 million was up 14% from year-ago levels, and it exceeded the roughly 11% growth rate that most of those following the stock were looking to see. Net income attributable to the company declined 5% to $18.6 million, but earnings of $0.41 per share topped the consensus forecast among investors for $0.36 per share.
Source Fool.com