CORRECTION: VersaBank Q1 EPS $0.36 Beats $0.35 Estimate, Sales $21.35M Miss $22.43M Estimate
Portfolio Pulse from Benzinga Newsdesk
VersaBank (NASDAQ:VBNK) reported Q1 earnings of $0.36 per share, surpassing the $0.35 estimate, marking a 44% increase from last year. However, their sales of $21.35M fell short of the $22.43M estimate, despite being an 11.49% increase from the previous year.
March 06, 2024 | 12:39 pm
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VersaBank reported a mixed Q1 with earnings per share beating estimates but sales missing expectations. Earnings per share increased by 44% from the previous year, while sales saw an 11.49% year-over-year increase.
The mixed results with an earnings beat but a miss on sales forecasts could lead to neutral short-term stock price movement. The positive earnings growth is a strong point, but the sales miss may temper investor enthusiasm.
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