SBC Medical Q3 Profit Rises, But Revenue Declines

(RTTNews) - SBC Medical Group Holdings Incorporated (SBC), a provider of consulting and management services, on Friday reported significant increase in its third-quarter profit, mainly helped by higher other income and lower other expenses.

Net income for the quarter increased to $12.82 million or $0.12 per share from $2.83 million or $0.03 per share in the same quarter a year ago. On average, 3 analysts expected earnings of $0.11 per share. Analysts' estimates typically exclude special items.

Other income increased to $2.53 million from $65,922, while other expenses declined to $6,564 from 795,158 last year. The company also recorded a gain from change in fair value of cryptocurrencies of 34,404 in the latest quarter.

Income from operations increased to $15.88 million from $13.83 million last year.

Revenue for the quarter, however, declined to $43.35 million from $53.08 million for the previous year. The consensus estimate was for $45.78 million.

SBC stock was up more than 14% in pre-market trading after closing at $3.36 on Thursday.