Equifax Inc. (NYSE: EFX) announced financial results for the quarter ended September 30, 2020. Notwithstanding COVID-19 Impact the results are spectacular.
Financial Results Summary: The company reported revenue of $1,068.3 million in the third quarter of 2020, up 22% compared to the third quarter of 2019 on a reported and local currency basis. Net income attributable to Equifax of $224.2 million was up 177% in the third quarter of 2020 compared to net income attributable to Equifax of $81.1 million in the third quarter of 2019. Third quarter diluted EPS attributable to Equifax was $1.82, up compared to $0.66 in the third quarter of 2019.
“Equifax delivered its third consecutive quarter of strong, double digit growth and margin expansion while generating over $1 billion of quarterly revenue for the first time.
Amidst the challenging economic impacts of the coronavirus pandemic, both our Workforce Solutions income and employment business, enabled by accelerating new product innovation and record growth, and our US Information Services business, performed very well.
Our results reflect the strength and resiliency of our broad-based business model, our differentiated assets, and the importance of data and analytics to help our customers make better decisions during these turbulent times,” said Mark W. Begor, Equifax Chief Executive Officer.
“These strong results follow our momentum over the past 12 months and allow us to continue to invest in our cloud data and technology transformation, along with data and analytics and new products to position Equifax for future growth.”
Source: Equifax Earnings Report