Recap: Newtek Business Services Q2 Earnings

Shares of Newtek Business Services NEWT moved higher in after-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share fell 12.41% year over year to $1.20, which beat the estimate of $0.71.

Revenue of $36,588,000 declined by 21.64% year over year, which beat the estimate of $19,780,000.

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.

Technicals

Company's 52-week high was at $38.78

Company's 52-week low was at $16.24

Price action over last quarter: down 6.81%

Company Overview

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.