First Internet Q4 Adj $0.48 Beats $0.31 Estimate, Sales $27.21M Beat $19.28M Estimate
Portfolio Pulse from Benzinga Newsdesk
First Internet (NASDAQ:INBK) exceeded analyst expectations for Q4 with adjusted earnings of $0.48 per share, surpassing the estimate of $0.31, and reported sales of $27.21M, beating the $19.28M estimate. However, there was a 29.41% decrease in earnings and a 0.98% decrease in sales compared to the same period last year.
January 24, 2024 | 9:33 pm
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First Internet's Q4 results beat analyst estimates with higher earnings and sales, but showed a decrease from the previous year's figures.
Beating earnings and sales estimates typically has a positive impact on a company's stock price in the short term. However, the reported decreases in earnings and sales compared to the previous year may temper investor enthusiasm, potentially limiting the upside.
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