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NewtekOne (NEWT) Reports Q2 Earnings: What Key Metrics Have to Say

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NewtekOne (NEWT - Free Report) reported $61.15 million in revenue for the quarter ended June 2024, representing a year-over-year increase of 17.4%. EPS of $0.43 for the same period compares to $0.26 a year ago.

The reported revenue represents a surprise of +2.45% over the Zacks Consensus Estimate of $59.68 million. With the consensus EPS estimate being $0.41, the EPS surprise was +4.88%.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how NewtekOne performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:

  • Total noninterest income

    : $52.02 million compared to the $49.01 million average estimate based on three analysts.
  • Net interest income

    : $9.13 million compared to the $10.67 million average estimate based on three analysts.
  • Noninterest income- Net gains on sales of loans

    : $22.56 million versus the two-analyst average estimate of $16.89 million.
  • Noninterest income- Electronic payment processing income

    : $12.65 million compared to the $11.95 million average estimate based on two analysts.
  • Noninterest income- Other noninterest income

    : $11.42 million compared to the $7.19 million average estimate based on two analysts.
  • Noninterest income- Servicing income

    : $4.61 million compared to the $5.10 million average estimate based on two analysts.
  • Noninterest income- Dividend income

    : $0.37 million versus the two-analyst average estimate of $0.48 million.
  • Noninterest income- Technology and IT support income

    : $5.17 million versus the two-analyst average estimate of $6.54 million.
View all Key Company Metrics for NewtekOne here>>>

Shares of NewtekOne have returned +5.1% over the past month versus the Zacks S&P 500 composite's -2.9% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.

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