Avidbank Holdings Inc. Misses Q2 Earnings and Revenue Estimates
Avidbank Holdings Inc. (OTC: AVBH) came out with quarterly earnings of $0.46 per share, missing the Zacks Consensus Estimate of $0.68 per share. This compares to earnings of $0.63 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -32.35%. A quarter ago, it was expected that this company would post earnings of $0.69 per share when it actually produced earnings of $0.69, delivering no surprise.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
Avidbank Holdings, which belongs to the Zacks Banks – West industry, posted revenues of $19.62 million for the quarter ended June 2024, missing the Zacks Consensus Estimate by 4.53%. This compares to year-ago revenues of $18.58 million. The company has topped consensus revenue estimates just once over the last four quarters.
The sustainability of the stock’s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management’s commentary on the earnings call.
Avidbank Holdings shares have lost about 9.1% since the …
Full story available on Benzinga.com
