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Newtek: 3Q Earnings Snapshot

November 7, 2019 GMT

LAKE SUCCESS, N.Y. (AP) _ Newtek Business Services Inc. (NEWT) on Wednesday reported third-quarter net income of $10.6 million.

The Lake Success, New York-based company said it had net income of 55 cents per share. Earnings, adjusted for one-time gains and costs, were 63 cents per share.

The provider of financial and business services to small-and medium-sized business posted revenue of $16 million in the period.

Newtek shares have risen 27% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $22.09, an increase of 11% 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 NEWT at https://www.zacks.com/ap/NEWT