Fidelity's third quarter earnings drop

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@inman.com.

All rights reserved. This content may not be used or reproduced in any manner whatsoever, in part or in whole, without written permission of Inman News. Use of this content without permission is a violation of federal copyright law.