Shares of Axa Equitable Holdings (EQH) tumbled 5.80% in pre-market trading on Wednesday following the release of the company's first-quarter 2025 earnings report, which fell short of analyst expectations. The financial services firm's disappointing results have sparked concerns among investors about its near-term growth prospects.

Equitable Holdings reported revenue of $3.78 billion for the quarter ended March 2025, representing a year-over-year increase of 4%. However, this figure came in below the Zacks Consensus Estimate of $3.99 billion, marking a negative surprise of 5.07%. The company's earnings per share (EPS) also disappointed, coming in at $1.35 compared to $1.43 a year ago and falling short of the consensus EPS estimate of $1.49 by 9.40%.

Several key metrics in the report raised eyebrows among analysts. The company's Individual Retirement segment saw net flows of $1.43 billion, below the average estimate of $1.81 billion. Additionally, the Legacy segment revenue of $120 million fell significantly short of the $158.35 million estimated by analysts. These misses, coupled with lower-than-expected figures in other areas such as Wealth Management and Corporate and Other segments, have contributed to the negative sentiment surrounding the stock. As investors digest these results, they appear to be reassessing Equitable Holdings' valuation and growth trajectory, leading to the sharp pre-market decline.