Bank Bradesco SA's (NYSE:BBD) stock plummeted by 5.38% in the pre-market session on Friday, following the Brazilian bank's disappointing fourth-quarter 2024 earnings report. The bank reported quarterly earnings per share of $0.07, missing analyst consensus estimates of $0.09 by 22.22%. Bradesco also reported quarterly sales of $3.21 billion, falling short of the analyst consensus estimate of $5.11 billion by a significant 37.20% margin.
The earnings miss suggests that Bank Bradesco faced challenges in growing its revenues and profitability during the fourth quarter of 2024. This likely fueled concerns among investors about the bank's prospects, leading to the significant sell-off in its shares. The bank's revenue figure of $3.21 billion represented a 1.54% decrease compared to the same period last year, further exacerbating investor concerns.
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