Why TransUnion Tumbled More Than 11% on Tuesday
Shares of credit bureau TransUnion (NYSE: TRU) are down 11.5% as of 11:58 a.m. ET on Tuesday, according to data from S&P Global Market Intelligence. The stumble follows the release of its second-quarter earnings that met estimates but were undermined by disappointing guidance for the third quarter.
By nearly almost any measure, TransUnion's second quarter was a winner. The top line of $948 million not only beat revenue estimates of $964 million but was up a hefty 30% year over year. Adjusted, non-GAAP earnings of $0.98 per share merely met analysts' consensus estimate, although still topped the year-earlier comparison of $0.96 per share.
The forecasted future, however, isn't quite as compelling. The company believes sales for the quarter underway will roll in between $935 million and $955 million, versus a consensus of $985 million. The analyst community is calling for third-quarter per-share earnings of $1.02, but TransUnion says it's only on track to earn between $0.89 and $0.95 per share for the three-month stretch ending in September.
Source Fool.com
