Cathay General: Q4 Earnings Insights
Portfolio Pulse from Benzinga Insights
Cathay General (NASDAQ:CATY) reported Q4 earnings with an EPS of $1.13, beating estimates by 6.6% but with a revenue decline of $8.66 million year-over-year. Despite beating EPS estimates last quarter, the share price dropped by 0.9% the following day.
January 24, 2024 | 9:35 pm
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Cathay General reported a higher-than-expected Q4 EPS at $1.13, surpassing estimates by 6.6%, but experienced a year-over-year revenue decrease.
While Cathay General's EPS beat may be viewed positively, the decline in revenue and the historical price drop following the last earnings beat suggest a mixed reaction. The market may have already priced in the earnings beat, and the revenue decline could temper any potential gains.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100