India, Oct. 21 -- Stewart Information Services Corp. (STC) on Wednesday reported lower third-quarter profit, as higher operating expenses offset revenue growth.
Net income attributable to Stewart declined to $30.3 million, or $0.98 per share, from $44.3 million, or $1.55 per share, in the year-ago quarter.
On an adjusted basis, net income fell to $41.2 million from $46.7 million, while adjusted earnings per share decreased to $1.33 from $1.64.
Total revenue for the third quarter increased 13% to $900.7 million from $796.9 million a year earlier. Adjusted revenue, excluding net realized and unrealized gains and losses, rose 14% to $900.7 million from $791.3 million.
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