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FICO posts higher profit on scores business strength
Apr 25, 2024 3:05 PM

April 25 (Reuters) - Credit scoring giant Fair Isaac

Corp ( FICO ) posted a rise in second-quarter profit on

Thursday, helped by robust demand for its scores and software

businesses.

The seven-decade-old company is best known for its FICO

Score, the standard measure of consumer credit risk used by

banks, credit card issuers, mortgage lenders and auto loan

providers.

The company's scores segment revenue surged 19.3% to $236.9

million, driven largely by higher unit prices.

Revenue from its software unit, which sells analytics and

data technologies to businesses, rose to $196.9 million from

$181.8 million a year earlier.

The company reported an adjusted net income of $6.14 per

share in the quarter, compared with $4.78 per share a year

earlier.

FICO now expects its 2024 adjusted profit to be $22.80 per

share.

Fair Isaac ( FICO ) posted revenue of $433.8 million for the three

months ended March 31, compared with $380.3 million a year

earlier.

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