(Reuters) – Fair Isaac Corporation, widely known as FICO, reports a 18.6% rise in first-quarter profit on Tuesday, helped by continued growth in its scores and software segments. Commercial and industrial lending is expected to pick up under President Donald Trump’s tax cuts and deregulation agenda, boosting demand for FICO’s offerings, which help lenders assess […]
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FICO quarterly profit rises on strong demand for its offerings
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(Reuters) – Fair Isaac Corporation, widely known as FICO, reports a 18.6% rise in first-quarter profit on Tuesday, helped by continued growth in its scores and software segments.
Commercial and industrial lending is expected to pick up under President Donald Trump’s tax cuts and deregulation agenda, boosting demand for FICO’s offerings, which help lenders assess customer creditworthiness before approving loans.
The company reported adjusted profit of $143.8 million, or $5.79 per share, in the three months ended Dec. 31. That compares with $121.2 million, or $4.81 per share, a year earlier.
Scores revenue, the company’s largest revenue segment, rose to $235.7 million in the quarter, compared with $192.1 million a year earlier.
The software segment reported a 10% rise to $186 million from the same period last year.
FICO’s total revenue jumped 15.1% to about $440 million from a year earlier.
(Reporting by Ateev Bhandari and Jaiveer Shekhawat in Bengaluru; Editing by Alan Barona)