Envestnet Q2 Adj $0.46, Inline, Sales $312.43M Miss $315.10M Estimate
Portfolio Pulse from Benzinga Newsdesk
Envestnet (NYSE:ENV) reported Q2 earnings of $0.46 per share, meeting analyst consensus but marking a 6.12% decrease YoY. Quarterly sales were $312.43M, missing the analyst consensus of $315.10M by 0.85% and decreasing 2.01% YoY.
August 04, 2023 | 2:36 pm
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NEGATIVE IMPACT
Envestnet's Q2 earnings met expectations but sales missed estimates and both earnings and sales decreased YoY.
Envestnet's earnings met expectations, which is positive. However, the company missed sales estimates and both earnings and sales decreased compared to the same period last year, which could negatively impact the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100