Conversant Q2 Profit Rises

(RTTNews) - Conversant Inc. (CNVR) Wednesday reported second-quarter net income of $17.7 million or $0.26 per share, up from $11.9 million or $0.15 per share last year.

Adjusted earnings for the quarter rose to $0.35 per share from $0.16 per share last year. On average, 14 analysts polled by Thomson Reuters expected the company to earn $0.35 per share for the quarter. Analysts' estimates typically exclude special items.

Revenues for the quarter rose to $137.4 million from $128.1 million a year ago. Analysts estimated revenues of $138.14 million for the quarter.

Looking forward to the third quarter, the company expects earnings of $0.27 to $0.29 per share, adjusted earnings of $0.37 to $0.39 per share and revenues of $142 million to $148 million. Analysts currently estimate earnings of $0.39 per share on revenues of $144.58 million.

The company announced a $150 million increase in stock repurchase program.