Crypto Bank Silvergate Earnings Miss Estimates, Stock Rises

Silvergate Capital

saw a net lack of $1 billion within the fourth quarter—greater than the bank has cumulatively earned in years—as earnings were hit by a meltdown within the crucial cryptocurrency space it bet its future on.

The group reported a fourth-quarter lack of $1 billion, or $33.16 per share, which is greater than the $870 million loss expected amongst analysts surveyed by FactSet. 

Leave a Comment

Copyright © 2024. All Rights Reserved. Finapress | Flytonic Theme by Flytonic.