ConnectOne Bancorp Q2 2024 GAAP EPS $0.46 Beats $0.41 Estimate, Sales $61.439M Miss $61.470M Estimate
Portfolio Pulse from Benzinga Newsdesk
ConnectOne Bancorp (NASDAQ:CNOB) reported Q2 2024 GAAP EPS of $0.46, beating the analyst estimate of $0.41 by 12.2%. However, sales of $61.439M missed the $61.470M estimate by 0.05%, marking a 3.77% decrease from the same period last year.
July 25, 2024 | 11:02 am
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POSITIVE IMPACT
ConnectOne Bancorp's Q2 2024 earnings per share (EPS) of $0.46 beat analyst estimates by 12.2%, but sales of $61.439M slightly missed expectations and were down 3.77% year-over-year.
The positive EPS surprise is likely to have a more significant impact on the stock price than the slight miss in sales. Beating EPS estimates by 12.2% is a strong positive signal, even though sales were slightly below expectations and down year-over-year.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100