Granite Point Mortgage: Q3 Earnings Insights
Portfolio Pulse from Benzinga Insights
Granite Point Mortgage (NYSE:GPMT) reported Q3 earnings, beating estimated earnings by 38.46% with an EPS of $0.18 versus an estimate of $0.13. Revenue was up $1.62 million from the same period last year. Last quarter, the company beat EPS estimates by $0.06, which was followed by a 2.62% drop in the share price the next day.
November 07, 2023 | 9:50 pm
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Granite Point Mortgage beat Q3 earnings estimates by 38.46%, with an EPS of $0.18. However, last quarter's earnings beat was followed by a 2.62% drop in share price.
Granite Point Mortgage's Q3 earnings beat is a positive signal for the company. However, the stock's reaction to the last earnings beat, a 2.62% drop, suggests that investors may have different expectations. Therefore, the impact on the stock price in the short term is uncertain.
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IMPORTANCE 80
RELEVANCE 100