Real Matters: Slumps on Q4 profit miss, lower refinance volumes

Real Matters

20/11/2020 17:49

** IT services provider's shares  REAL.TO  slump 16% to
$22.15
    ** Co posts Q4 adjusted profit of $0.18/share vs est. of
$0.19/share- Refinitiv IBES  urn:newsml:reuters.com:*:nBw7ryRcNa
    ** Co says the U.S. mortgage origination market was flat in
Q4 as the estimated 6% increase in purchase volumes was offset
by a 9% year-over-year decline in refinance volumes
    ** On an earnings call, co said its home equity and default
market volumes were down 57% year-over-year
    ** REAL provides network management services for mortgage
lending and insurance industries
    ** Stock up 80.5% YTD 

 (Reporting by Shradha Singh in Bengaluru)
 ((Shradha.Singh@thomsonreuters.com; within U.S. +1 646 223 8780
Ext: 2804, outside U.S. +91 80 6182 2630;))