FICO reports higher Q4 profit on strength in scores, software businesses
(Reuters) - Fair Isaac, a data and analytics company better known as FICO, reported higher profit for the fourth quarter on Wednesday, helped by strong performance of its scores and software businesses.
The seven decade-old company is best known for its FICO Score, the standard measure of consumer credit risk used by banks, credit card issuers, mortgage lenders and auto loan providers.
The company scores segment's revenue jumped 12% to $195.6 million from $174.1 million a year earlier, driven by pricing increases.
Revenue from the software unit, which sells analytics and data technologies to businesses, rose 11% to $194.2 million compared with $174.7 million a year earlier.
The company reported net income of $101.4 million, or $4.01 per share in the quarter, compared with $90.7 million, or $3.55 per share, a year earlier.
Fair Isaac posted revenue of $389.7 million for the three months ended Sept. 30, compared with $348.7 million a year earlier.
(Reporting by Manya Saini and Niket Nishant in Bengaluru; Editing by Krishna Chandra Eluri)
