COOP - Why Shares of Mr. Cooper Group Are Rising Today
Shares of mortgage company Mr. Cooper Group (NASDAQ: COOP) traded nearly 9% higher as of 10:21 a.m. ET Wednesday after the company reported earnings results for the second quarter of the year.
In the second quarter, Mr. Cooper Group reported diluted earnings per share of $2.03 on total revenue of $599 million, both numbers that widely beat analyst estimates.
The company also grew its mortgage servicing portfolio to $804 billion and grew its tangible book value per share, or net worth, to $54.51, which is up close to 4% from the first quarter of the year.
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Why Shares of Mr. Cooper Group Are Rising Today