Loan demand has slumped this year across products, from mortgages to auto and credit cards, as the U.S. Federal Reserve keeps rates at their highest levels in decades in a bid to bring inflation back under its 2% target.
The move has hurt consumer credit ratings firms that rely on borrowers checking their credit scores to confirm their eligibility.
Equifax expects revenue between $1.43 billion and $1.45 billion in the three months ended Sept. 30, the mid-point of which came in below Wall Street’s average expectation of $1.45 billion, according to LSEG data.
In the second quarter, its revenue rose 9% to $1.43 billion, compared with estimates of $1.42 billion.
Adjusted profit came in at $1.82 per share for the period ended June 30, compared with Wall Street’s expectation of $1.73 per share.
Source: Economy - investing.com
