Profit at First American Offset by Investing Costs
- Share via
Title insurer First American Corp. said first-quarter profit fell 12% as costs of investing in new businesses and greater provisions for title losses and claims offset higher revenue.
The Santa Ana-based company said it earned $69.7 million, or 71 cents a share, compared with $79.2 million, or 83 cents, a year earlier. Revenue rose 18% to $2 billion.
Analysts on average had forecast earnings of 84 cents a share.
Annette Haddad
More to Read
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
