PennyMac misses earnings targets
Both segments of PennyMac’s business missed estimates when they announced their second quarter financial earning reports on Aug. 5. PennyMac Financial Services reported net income of $204.2 million, or $2.94 per share on a diluted basis, missing the 3.48 per share estimate predicted by Zacks Consensus Estimates. The Westlake Village-based financial services segment had earnings Read More →
Velocity shares rise after earnings beat
Velocity Financial saw its net income rise in its second quarter financial earnings, beating estimates. The Westlake Village-based mortgage firm had net income of $9.45 million, or 28 cents per share, well above analysts’ estimates of around 15 cents per share. Velocity Financial more than tripled its net income from the same time a year Read More →
Amgen shrugs off tough quarter, announces plans for new plant in North Carolina
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Procore posts loss in first post-IPO quarter
In its first earnings report since going public, Procore Technologies, a Carpinteria-based software company for the construction industry, delivered record revenue growth, but rising operating costs hurt overall earnings. Revenue rose 27.7% for the quarter ended June 30, the company reported on Aug. 5. Procore generated $122.8 million, up from $96.5 million in the same Read More →
Inogen shares plummet after news of supply chain problems
Shares of the Goleta-based medical device company Inogen dropped by 27% on Aug. 5, the day after the company released its second quarter 2021 earnings. Though the maker of portable oxygen concentrators saw big increases in both revenue and earnings, uncertainty brought on by the semiconductor chip shortage led to a huge selloff of Inogen Read More →
Salem reports profit in Q2
Salem Media Group saw its net income rise over the last year as revenue and operating expenses both went up for the quarter ended June 30. The conservative media group has some of its main operations in Camarillo but moved its headquarters earlier this year to Irving, Texas. Its total revenue increased more than 20% Read More →
Inogen sees revenue growth, but stock declines after report
Inogen, a Goleta-based medical device company specializing in portable oxygen concentrators, is starting to see its core business come back from the pandemic, and the company highlighted double-digit year-over-year growth in both earnings and revenue in its second quarter financial results, released Aug. 4. The company more than doubled its net income for the quarter Read More →
