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Stock impact report

Altisource Announces Fourth Quarter and Full Year 2020 Financial Results

Altisource Portfolio Solutions S.A. (ASPS) 
Last altisource portfolio solutions s.a. earnings: 4/30 06:59 am Check Earnings Report
US:NASDAQ Investor Relations: ir.altisource.com/investor-relations
Company Research Source: GlobeNewswire
LUXEMBOURG, March 11, 2021 (GLOBE NEWSWIRE) -- Altisource Portfolio Solutions S.A. (“Altisource” or the “Company”) (NASDAQ: ASPS), a leading provider and marketplace for the real estate and mortgage industries, today reported financial results for the fourth quarter and full year 2020. “2020 was a very challenging year for Altisource.  To address our challenges, we focused on aggressively reducing costs and simplifying the organization.  We have two strong core businesses – origination and default.  2020 revenue in our origination business grew by 47%(3), excluding our construction risk mitigation business that was impacted by the pandemic, and is forecasted to grow by 60% to $99 million in 2021.  Our countercyclical default business was adversely impacted by the pandemic, creating what we believe is a massive backlog of business that we should begin to benefit from at the start of 2022 after the pandemic-related foreclosure moratoriums and forbearance plans expire. We anticipate s Show less Read more
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