Stock Analysis
Sparebanken Møre Second Quarter 2024 Earnings: Revenues Beat Expectations
Sparebanken Møre (OB:MORG) Second Quarter 2024 Results
Key Financial Results
- Revenue: kr643.0m (up 18% from 2Q 2023).
- Net income: kr301.0m (up 149% from 2Q 2023).
- Profit margin: 47% (up from 22% in 2Q 2023). The increase in margin was primarily driven by lower expenses.
All figures shown in the chart above are for the trailing 12 month (TTM) period
Sparebanken Møre Revenues Beat Expectations
Revenue exceeded analyst estimates by 2.1%.
Looking ahead, revenue is forecast to stay flat during the next 3 years compared to a 1.1% growth forecast for the Banks industry in Norway.
Performance of the Norwegian Banks industry.
The company's shares are down 1.2% from a week ago.
Risk Analysis
What about risks? Every company has them, and we've spotted 1 warning sign for Sparebanken Møre you should know about.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
About OB:MORG
Sparebanken Møre
Provides banking services for retail and corporate customers in Norway.