FICO quarterly profit rises on scores business strength
Fair Isaac Corporation, widely known as FICO, reported a 25% jump in second-quarter profit on Tuesday, helped by growth in its scores segment. U.S. consumer debt delinquencies have climbed to the highest levels since the early days of pandemic, underscoring growing financial strain on households as they grapple with elevated interest rates, sticky inflation, and weakening job market signals. However, for companies like FICO, the developer of the widely used FICO credit score, this environment presents a counterintuitive business opportunity.