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Thursday, Mar 28, 2024
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Encore Capital Group Reports Second Quarter Results

Specialty finance company Encore Capital Group Inc. reported $289.4 million in revenue for the second fiscal quarter ending June 30, 2 percent up from the $282.7 million reported last year in the same quarter.

Net income for the second quarter was about $29.6 million, the company’s quarterly earnings report showed, up from about $27.7 million last year.

Gross collections declined 1 percent to $434 million from a record high of $437 million in the same three-month period last year.

The San Diego-based company, the largest buyer of defaulted credit card debt, has operations in 14 countries.

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