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MMG's Bodnar: We've Been Watching This Movie All Year Bill Bodnar of the Mortgage Market Guide breaks down the jobs report, why and how it came in above expectations, and what that means just days ahead of the Fed meeting.
Estimated reading time: 1 minute, 9 seconds
Black Knight's Software Solutions Revenue Up 7% in Q3
Black Knight Inc. reported that adjusted revenues from its software solutions increased 7% in the third quarter to $243.9 million, from $227.2 million in the same period a year earlier. The origination business rose 8%, while the servicing software business rose 7%. Black Knight delivers software, data and analytics to mortgage, real estate and capital markets companies.
Data and Analytics Adjusted Revenues for the third quarter increased 2%, to $38.4 million, from $37.6 million in the same quarter a year earlier. The revenue performance was due to an increase in the property data and multiple listing service businesses.
Revenues for the third quarter of 2018 increased 7% to $281.7 million, from $263.8 million compared with the same quarter a year earlier. Net earnings attributable to Black Knight for the third quarter of 2018 were $43.0 million, or $0.29 per diluted share, compared to $14.7 million, or $0.21 per diluted share, in the prior year quarter.
Adjusted Revenues for the third quarter of 2018 increased 7% to $282.3 million, from $264.8 million in the prior year quarter. Adjusted Net Earnings for the third quarter of 2018 increased 31% to $71.3 million, compared with $54.3 million in the same quarter in 2017.
Adjusted Net Earnings Per Share for the third quarter of 2018 increased 33% to $0.48 per diluted share compared to $0.36 per diluted share in the prior year quarter. Adjusted EBITDA for the third quarter of 2018 increased 8% to $138.4 million, from $128.2 million in the prior year quarter. Adjusted EBITDA Margin was 49.0%, an increase of 60 basis points compared to the prior year quarter.