Shares of GBank Financial Holdings Inc. (NASDAQ: GBFH) tumbled 6% in after-hours trading on Monday following the release of its second-quarter earnings report. The financial services company's results painted a mixed picture, with a significant earnings miss overshadowing strong revenue growth.
GBank reported quarterly earnings of $0.33 per share, falling short of the analyst consensus estimate of $0.39 by 15.38%. This represents a decrease of 8.33% compared to the same period last year when the company earned $0.36 per share. The earnings miss likely sparked investor concerns about the company's profitability and operational efficiency.
Despite the disappointing bottom line, GBank's top-line performance was robust. The company reported quarterly sales of $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 growth was not enough to offset investor disappointment in the earnings shortfall, as evidenced by the stock's after-hours decline.
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