Live Oak Bancshares Q2 EPS $0.39 Beats $0.31 Estimate, Sales $108.46M Beat $104.57M Estimate
Portfolio Pulse from mahesh@benzinga.com
Live Oak Bancshares (NASDAQ:LOB) reported Q2 earnings of $0.39 per share, beating the analyst consensus estimate of $0.31 by 25.81%. However, this is a 81.94% decrease from the same period last year. The company also reported quarterly sales of $108.46 million, beating the estimate of $104.57 million by 3.72%, but this is a 47.97% decrease from the same period last year.
July 25, 2023 | 8:51 pm
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Live Oak Bancshares reported better than expected Q2 earnings and sales, but both figures significantly decreased compared to the same period last year.
While Live Oak Bancshares beat the estimates, the significant decrease in earnings and sales compared to the same period last year could potentially offset the positive impact of beating the estimates. Therefore, the short-term impact on the stock price is neutral.
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IMPORTANCE 80
RELEVANCE 100