First Foundation Inc. (NYSE: FFWM) shares plummeted 9.27% during the pre-market session on Thursday after the company reported disappointing fourth-quarter earnings results that missed analyst expectations.
The financial services company reported a quarterly net loss of $0.17 per share, significantly missing the consensus estimate of $0.05 earnings per share. Additionally, First Foundation's quarterly revenue of $64.68 million fell short of the $66.15 million expected by analysts.
The dismal earnings performance highlighted challenges faced by the company, prompting investors to reevaluate their positions and leading to a sharp sell-off in the stock. The company's shares traded at a 9.27% discount compared to the previous session's closing price, reflecting the market's reaction to the disappointing financial results.
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