Heritage Commerce Q2 EPS $0.15 Misses $0.18 Estimate, Sales $41.73M Beat $40.90M Estimate
Portfolio Pulse from Benzinga Newsdesk
Heritage Commerce (NASDAQ:HTBK) reported Q2 earnings per share of $0.15, missing the analyst estimate of $0.18 by 16.67%. Sales were $41.73M, beating the estimate of $40.90M by 2.03%. Compared to the same period last year, EPS decreased by 44.44% and sales decreased by 13.72%.
July 26, 2024 | 6:30 am
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NEGATIVE IMPACT
Heritage Commerce reported Q2 EPS of $0.15, missing the $0.18 estimate by 16.67%. Sales of $41.73M beat the $40.90M estimate by 2.03%. EPS decreased by 44.44% YoY, and sales decreased by 13.72% YoY.
The significant miss on EPS and the year-over-year decline in both EPS and sales are likely to negatively impact investor sentiment in the short term, despite the slight beat on sales estimates.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100