eQ Oyj's Q3 2024 financial report shows slight decrease in net sales and operating profit

From GlobeNewswire: 2024-10-22 01:00:00

eQ Oyj’s interim report for Q3 2024 showed a net sales of €50.9 million, a decrease of 3% from the previous year. The company’s operating profit was €27.6 million, down by 8%. eQ Varainhoidon’s managed assets grew by 3% to €13.3 billion during the reporting period.

In the third quarter of 2024, eQ Oyj reported a net sales of €16.7 million, with net fee income of €16.6 million. The operating profit decreased by 6% to €9.6 million. The company’s earnings were €7.6 million, with an EPS of €0.18. Key figures show a mix of positive and negative changes in Q3 compared to previous periods.

The stock market reacted dramatically to fears of a recession, prompting the U.S. Federal Reserve to cut interest rates. Other central banks, like the ECB, also implemented rate cuts. Market reactions were deemed excessive as economic data improved. Stock returns differed, with the U.S. leading the way. eQ’s business performance reflected market trends but remained positive overall.



Read more at GlobeNewswire:: eQ Oyj:n osavuosikatsaus Q3 2024 – eQ:n liikevoitto 27,6