Credit bureau Equifax’s first-quarter profit climbed 4.2% as a slight increase in revenue more than offset higher operating expenses and lower operating margins.
Equifax posted net income of $56.7 million for the first quarter, compared to $54.4 million for the same period last year. First quarter revenues increased 3.3% to $461.3 million.
Equifax, one of three major U.S. credit-reporting bureaus, has expanded into other areas including credit card marketing, fraud detection and credit risk consulting to increase revenue in a difficult market.
Richard F. Smith, Equifax's chairman and chief executive, said revenue trends strengthened as the quarter progressed and as the economy stabilizes.