UPDATE 1-CompuCredit posts wider-than-expected Q1 loss

* Q1 loss $2.40/shr vs profit of $0.01/shr a yr-ago

* Q1 managed loss $2.59/shr vs loss est $0.85/shr

* Lost $152.0 mln on securitized earning assets

May 6 (Reuters) - CompuCredit Corp (CCRT.O) reported a wider-than-expected quarterly loss as the marketer of branded credit cards and related financial services had a $152.0 million loss on securitized earning assets.

The company is focusing on cutting costs and expanding businesses that do not rely on securitization markets, like its charged-off-debt-buying business and standalone third party servicing capabilities, David Hanna, chief executive of CompuCredit said.

For the first quarter, the Atlanta, Georgia-based company posted a net loss attributable to controlling interests of $112.5 million, or $2.40 a share, compared with a profit of $923,000, or 1 cent a share, a year ago.

On a managed basis, excluding certain items, its net loss attributable to controlling interests was $121.6 million, or $2.59 per share, compared with a loss of $106.8 million, or $2.29 per share, last year.

Two analysts, on average, expected the company to report a loss of 85 cents a share, according to Reuters Estimates.

Shares of the company closed at $3.55 Wednesday on Nasdaq. (Reporting by Amiteshwar Singh in Bangalore; Editing by Jarshad Kakkrakandy)