Figure Technology Solutions (FIGR) experienced a significant after-hours decline of 5.99% on Thursday. The drop followed the company's release of its fourth-quarter financial results.
The primary driver for the sell-off appears to be the company's earnings per share (EPS) falling short of analyst expectations. Figure Technology reported Q4 EPS of $0.06, which missed the consensus estimate of $0.08. This overshadowed the positive news that the company's sales of $159.913 million beat the $151.379 million estimate.
Concurrently, the company announced a $200 million share repurchase program, which typically signals management's confidence in the company's value. However, investor focus in the post-market session was centered on the earnings miss, leading to the sharp decline in the stock price.