Why Springleaf Holdings (LEAF) Stock Is Surging

NEW YORK (TheStreet) -- Shares of Springleaf Holdings (LEAF) are soaring, up 12.67% to $29.70, after the company posted strong second quarter earnings and announced the sale of its real estate assets.

The consumer finance company reported that its second quarter net income increased to $72 million, or 63 cents per share, from $56 million, or 56 cents per share, a year ago.

Core earnings per share were 52 cents for the second quarter, beating analysts estimates of 45 cents.

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Revenue for the quarter increased 10.5% year over year to $432.79 million, higher than the $415.15 million analysts expected.

In the third quarter, Springleaf Holdings is selling approximately $7.2 billion of non-core real estate assets to three separate buyers, including New Residential Investment Corp (NRZ), as part of the company's mortgage liquidation plan. 

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