Medallion Financial: 2Q Earnings Snapshot

Associated Press
Updated ·1 min read

NEW YORK (AP) _ Medallion Financial Corp. (MFIN) on Monday reported a loss of $4 million in its second quarter.

On a per-share basis, the New York-based company said it had a loss of 16 cents.

The results missed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.

The business development company posted revenue of $38.8 million in the period. Its adjusted revenue was $30 million, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $31.6 million.

In the final minutes of trading on Monday, the company's shares hit $3.29. A year ago, they were trading at $5.13.

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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 MFIN at https://www.zacks.com/ap/MFIN