Why PRA Group Stock Rocketed 32% Higher on Friday

Shares of PRA Group (NASDAQ: PRAA) surged by more than 30% on May 8, following the release of the debt collector's first-quarter results.

PRA Group's operating income jumped 24% year over year to $60.5 million. Its net income, meanwhile, climbed 26% to $19.1 million, or $0.42 per share. That was well ahead of Wall Street's estimates for earnings per share of $0.31. 

Notably, PRA Group's cash collections rose 7% to $494.6 million, fueled in part by strong results in the company's international operations.

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Source Fool.com