GBank Financial Holdings Inc. (NASDAQ:GBFH) saw its stock price plummet 6% in after-hours trading on Monday, following the release of its second-quarter earnings report that fell short of analysts' expectations.
The financial services company reported quarterly earnings of $0.33 per share, missing the consensus estimate of $0.39 by 15.38%. This represents a decline of 8.33% compared to the same period last year when the company earned $0.36 per share. The earnings miss appears to be the primary driver behind the stock's sharp decline in extended trading.
Despite the earnings disappointment, GBank Financial Holdings did report some positive news on the revenue front. The company's quarterly sales came in at $17.772 million, surpassing the analyst consensus estimate of $12.800 million by an impressive 38.84%. This also marks a 14.55% increase from the $15.514 million in sales reported in the same quarter last year. However, the strong revenue performance was not enough to offset investor concerns about the earnings shortfall, as evidenced by the stock's after-hours movement.
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