Velocity Financial Q2 Adj EPS $0.38 Beats $0.33 Estimate, Sales $39.05M Beat $35.70M Estimate
Portfolio Pulse from mahesh@benzinga.com
Velocity Financial (NYSE:VEL) reported Q2 earnings of $0.38 per share, beating the analyst consensus estimate of $0.33 by 15.15%. This is a 22.58% increase from the same period last year. The company also reported quarterly sales of $39.05 million, beating the analyst consensus estimate of $35.70 million by 9.37%. This is a 31.81% increase from the same period last year.
August 04, 2023 | 2:34 pm
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POSITIVE IMPACT
Velocity Financial's Q2 earnings and sales beat estimates, with a YoY increase of 22.58% and 31.81% respectively. This positive performance may boost investor confidence and potentially drive the stock price up in the short term.
Velocity Financial's Q2 earnings and sales exceeded analyst estimates, which is generally seen as a positive signal by the market. The YoY growth in both earnings and sales indicates a strong financial performance, which could lead to increased investor confidence and a potential rise in the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100