Industry News

Fidelity’s second-quarter earnings fall

Year-to-date performance still stronger than last year

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Fidelity National Financial today reported second-quarter earnings of $190 million, or $1.07 per share, down 14.5 percent from a year ago when its earnings totaled $222.1 million, or $1.26 per share. Total revenue for the second quarter of 2005 was $2.43 billion, up 10.5 percent from $2.2 billion reported for the second quarter of 2004 Total title and escrow revenue was $1.63 billion for the second quarter of 2005, up 3.2 percent from $1.58 billion in the second quarter of 2004. The company reported net earnings for the first six months of 2005 at $634.5 million, up a dramatic 70 percent from the $372.3 million stated for the first half of 2004. 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 $38.85 per share this morning. *** What's your opinion? Send your Letter to the Editor to opinion@inman.com....