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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.

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