Florida-based Black Knight Inc, a provider of software, data and analytics solutions to the mortgage and consumer loan, real estate and capital markets announced its unaudited second-quarter earnings recently. The company said that its revenues for the second quarter of 2018 increased 5 percent to $276.6 million from $262.2 million in the prior year quarter. Net earnings attributable to Black Knight for the second quarter of 2018 were $40 million, compared to $8.2 million during the same period last year.
Its adjusted revenues for the second quarter of 2018 increased 5 percent to $277.4 million from $263.4 million in the prior year quarter. Adjusted net earnings for the second quarter of 2018 increased 28 percent to $68.4 million compared to $53.4 million in the prior year quarter. The company said that its adjusted net earnings per share for the second quarter of 2018 increased 31 percent to $0.46 per diluted share compared to $0.35 per diluted share in the prior-year quarter.
"We are pleased with our results in the second quarter, where we delivered Adjusted Revenues growth of 5 percent and Adjusted EBITDA growth of 6 percent, which drove margin expansion of 50 basis points to 48.4 percent," said Bill Foley Executive Chairman at Black Knight. "We are excited about Black Knight's momentum across the enterprise and the underlying fundamentals of our business remain strong."
For the six months ended, Black Knight's revenue increased 5 percent to $546.9 million from $520.3 million in the 2017 period. Net earnings attributable to Black Knight for the six months ended June 30, 2018, were $82.7 million, or $0.56 per diluted share, compared to $20.4 million, or $0.29 per diluted share, in the 2017 period.
"Our second quarter results reflect the consistent execution of our strategy to expand relationships with existing clients and we continue to innovate new solutions and acquire businesses that expand our offering," said Anthony Jabbour, CEO, Black Knight. "Black Knight continues to enhance its leading end-to-end software and data and analytics offering with a focus on helping our clients grow, increase efficiency and remain compliant."