Walker & Dunlop’s profit soars

Daily Record Staff//August 8, 2013//

Listen to this article

Walker & Dunlop Inc., of Bethesda, a real estate lender focused on multifamily loans, said its second-quarter net income rose 52.5 percent to $14.5 million, or 42 cents per diluted share, from $9.3 million, or 42 cents per diluted share, in the 2012 quarter.

The number of outstanding shares rose by 12.5 million year-to-year, diluting the earnings. Revenue surged to $90.7 million from $46.7 million in the prior-year period.

The company attributed the gain in revenue and profit to increases in loan origination volume and servicing fees.

Wall Street analysts surveyed by Thomson Reuters had forecast, on average, earnings of 55 cents per share on revenue of $95.18 million.

Select Region or Brand