NYSE:EQHDiversified Financial
Equitable Holdings (EQH) Stock Rally Ignores Widening GAAP Losses
The market treated Equitable Holdings like it had just aced the quarter. The stock jumped about 6% to US$51.30 in regular trading, extending already strong recent gains. The reality is more complicated. Q2 showed solid non GAAP operating earnings of US$1.70 per share and record assets under management and administration of about US$1.2b, yet the company still reported a loss on a GAAP basis.
For a stock often viewed as a steady cash generator in financial services, that gap between operating...