AG Mortgage IT: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
AG Mortgage IT (NYSE:MITT) reported its Q3 earnings results, beating estimated earnings by 25.0% with an EPS of $0.1 versus an estimate of $0.08. However, revenue was down $3.97 million from the same period last year. Last quarter, the company missed on EPS by $0.03, which was followed by a 0.74% increase in the share price the next day.
November 07, 2023 | 9:30 pm
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AG Mortgage IT beat Q3 earnings estimates but reported a decrease in revenue. Last quarter's EPS miss was followed by a slight increase in share price.
While AG Mortgage IT beat earnings estimates, which is generally a positive signal for the stock, the decrease in revenue could be a concern for investors. However, the company's stock price increased after missing EPS estimates last quarter, indicating that investors may not be overly concerned with short-term earnings fluctuations.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100