Newmark Group Q2 Adj. EPS $0.18 Misses $0.21 Estimate, Sales $585.84M Beat $558.87M Estimate
Portfolio Pulse from Benzinga Newsdesk
Newmark Group's Q2 adjusted earnings per share of $0.18 missed the analyst consensus estimate of $0.21 by 14.29%, a 60.87% decrease from the same period last year. However, the company's quarterly sales of $585.84 million beat the analyst consensus estimate of $558.87 million by 4.83%, despite a 22.44% decrease from the same period last year.
July 28, 2023 | 12:09 pm
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Newmark Group's Q2 earnings missed estimates but sales exceeded expectations. Earnings were down 60.87% YoY, while sales were down 22.44% YoY.
Newmark Group's earnings miss could negatively impact the stock price in the short term. However, the sales beat might mitigate some of the negative impact. The significant YoY decreases in both earnings and sales could also negatively affect investor sentiment.
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