Recap: Newtek Business Services Q1 Earnings

Shares of Newtek Business Services NEWT rose in after-market trading after the company reported Q1 results.

Quarterly Results

Earnings per share increased 400.00% year over year to $1.05, which missed the estimate of $1.08.

Revenue of $34,694,000 rose by 119.55% year over year, which beat the estimate of $29,300,000.

Guidance

Newtek Business Services hasn't issued any earnings guidance for the time being.

Newtek Business Services hasn't issued any revenue guidance for the time being.

Price Action

52-week high: $28.63

52-week low: $12.90

Price action over last quarter: Up 8.40%

Company Profile

Newtek Business Services Corp non-diversified closed-end management investment company. The firm's investment objective is to generate current income and capital appreciation. The company provides business solutions that are designed to help organizations to grow sales, reduce costs, and minimize risk. Its solutions include web design, domains, hosting, website security, and others.