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Axos Financial: Fiscal 1Q Earnings Snapshot

·1 min read

LAS VEGAS (AP) _ Axos Financial (AX) on Thursday reported fiscal first-quarter profit of $53 million.

The Las Vegas-based company said it had profit of 88 cents per share. Earnings, adjusted for costs related to mergers and acquisitions, were 91 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 69 cents per share.

The bank holding company posted revenue of $185.7 million in the period. Its adjusted revenue was $163.2 million, which also beat Street forecasts. Five analysts surveyed by Zacks expected $142.8 million.

Axos Financial shares have dropped 14% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $26.15, a decrease of 15% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AX at https://www.zacks.com/ap/AX