Industry News

Fidelity’s third quarter earnings drop

Earnings for first nine months down as well

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Fidelity National Financial today reported net earnings of $193.8 million, or $1.09 per diluted share, for the third quarter of 2004. That's a drop from the company's net earnings of $277.3 million, or $1.81 per diluted share, in the third quarter of 2003. For the first nine months of 2004, net earnings were $566.1 million, or $3.23 per diluted share. During the first nine months of last year, net earnings were $665.6 million, or $4.50 per diluted share. Operating revenue for the third quarter of 2004 was $2.14 billion, compared with $2.17 billion for the same time last year. Total title and escrow revenue was $1.51 billion for the third quarter, compared with $1.53 billion in the third quarter of 2003. Fidelity National Financial provides products and outsourced services and solutions to financial institutions and the real estate industry. Fidelity's stock (NYSE: FNF) was trading at $34.86 per share this morning. *** What's your opinion? Send your Letter to the Editor to samantha@in...