Popular Q1 EPS $1.43 Misses $1.86 Estimate, Net Interest Income Amounted To $550.7M Higher Than $531.66M YoY
Portfolio Pulse from Benzinga Newsdesk
Popular, Inc. (BPOP) reported Q1 earnings of $1.43 per share, missing the consensus estimate of $1.86 by 23.12%. This represents a 35.59% decrease from last year's earnings of $2.22 per share. However, net interest income rose to $550.7M, surpassing last year's $531.66M.
April 23, 2024 | 12:11 pm
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Popular, Inc. (BPOP) missed Q1 earnings estimates but reported higher net interest income compared to last year.
Missing the EPS estimate by 23.12% is likely to negatively impact investor sentiment and BPOP's stock price in the short term. However, the increase in net interest income indicates some underlying strength in the company's core business, which might mitigate the negative impact to some extent.
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