Equifax Hits Targets

Equifax (EFX Quote) rose 5% after the credit reporting company posted a solid first quarter.

Net income for the first quarter climbed to $59 million, or 44 cents a share, from $51 million, or 38 cents a share, a year ago.

Adjusting for costs in implementing the Fair and Accurate Credit Transactions Act, latest-quarter profit was 43 cents a share. This was still higher than analyst expectations of 41 cents a share. Adjusted revenue was $334 million, up 8% from a year ago.

European and Latin American operations contributed 22% and 25% of operating income, respectively.

"Equifax achieved one of the best starts to a new year in its 106-year history, with strong performances across all our businesses," CEO Thomas F. Chapman said in a press release.

Equifax rose $1.70 to $32.42.