Swedbank Q3 2024 GAAP EPS $0.80 Beats $0.68 Estimate, Sales $1.174B Down From $1.708B YoY
Portfolio Pulse from Benzinga Newsdesk
Swedbank reported Q3 2024 earnings of $0.80 per share, surpassing the $0.68 estimate, marking a 6.27% increase from last year. However, sales dropped 31.28% to $1.174 billion from $1.708 billion year-over-year.
October 23, 2024 | 5:13 am
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Swedbank's Q3 2024 earnings per share of $0.80 exceeded expectations, showing a positive earnings performance. However, the significant 31.28% decline in sales to $1.174 billion may raise concerns about revenue growth.
The positive earnings surprise with EPS beating estimates by 17.21% is a strong indicator of profitability, which is favorable for the stock. However, the substantial decline in sales by 31.28% could offset the positive sentiment from the earnings beat, leading to a neutral short-term impact on the stock price.
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IMPORTANCE 80
RELEVANCE 100