First Business Financial Services reports stronger-than-expected Q2 results, driven by revenue growth and lower non-performing assets.
First Business Financial Services posted Q2 GAAP earnings per share of $1.84, exceeding estimates by $0.28. Revenue reached $46.71 million, up 13.6% year-over-year and $1.36 million above expectations.
The company also reported a $2.4 million decline in non-performing assets from the prior quarter, improving its asset quality by eight basis points. Prior-year revenue stood at $41.1 million, with consensus estimates calling for $45.35 million in the current quarter.
Shares showed muted reaction in after-hours trading as investors digested the results.