PRA Group rises after posting smaller-than-expected Q4 loss

PRA

16/02/2024 19:22

** Shares of debt buyer PRA Group  PRAA.O  rise as much as
28.2%, last up 13.6% at $27.85
    ** After market close on Thursday, PRAA posted
smaller-than-expected Q4 loss of 22 cents/shr vs analysts'
expectation of 37 cents/shr - LSEG
    ** PRAA purchased total portfolios of $284.9 mln during the
quarter, due to growing portfolio supply in the U.S. and a
stable investment environment in Europe 
    ** Q4 total cash collections rose 4.8% to $410.3 mln from
last year, driven by higher cash collections in Europe and
Brazil
    ** Q4 total portfolio revenue fell to $217.4 mln from $219
mln
    ** Stock feel 22.4% in 2023

 (Reporting by Arasu Kannagi Basil in Bengaluru)
 ((ArasuKannagi.Basil@thomsonreuters.com;))