B2Gold (BTG) shares plummeted 5.46% in pre-market trading on Thursday, despite reporting better-than-expected third-quarter earnings. The significant drop comes as investors appear to focus on the company's revenue miss, overshadowing the positive earnings results.

The gold mining company reported adjusted earnings of $0.14 per share for the third quarter, surpassing analyst expectations of $0.12 per share and showing substantial improvement from $0.02 per share in the same period last year. However, B2Gold's gold revenue for the quarter ended September 30 came in at $782.9 million, falling short of the $845.9 million anticipated by analysts, despite a year-over-year increase from $448.2 million.

The market's negative reaction suggests that investors are particularly concerned about the revenue shortfall, which could indicate challenges in production or gold prices during the quarter. While B2Gold demonstrated strong bottom-line performance, the top-line miss raises questions about the company's ability to meet future growth expectations in a volatile precious metals market. As trading continues, investors will likely scrutinize the full earnings report for further insights into B2Gold's operational performance and outlook.