Shares of Brookfield Business Corp (BBUC) tumbled 5.24% in intraday trading on Friday, after the company reported second-quarter earnings that fell significantly short of analyst expectations.
The company posted earnings of $0.18 per share, a 60.87% miss compared to the consensus estimate of $0.46. Revenue also declined, coming in at $6.497 billion, down 2.96% from $6.695 billion in the same quarter last year. While net income attributable to shareholders rose to $37 million from $26 million a year earlier, the sharp miss on the bottom line overshadowed the year-over-year improvement.
The weak results pressured the stock, as investors reacted to the large gap between actual performance and market forecasts, driving the sharp intraday sell-off.