Axos Financial ( (AX) ) has released its Q2 earnings. Here is a breakdown of the information Axos Financial presented to its investors.
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Axos Financial, Inc., a diversified financial services company, operates through its subsidiaries including Axos Bank, Axos Clearing LLC, and Axos Invest, Inc., providing a range of banking and securities services nationwide. The company has reported its financial results for the second quarter of fiscal year 2025, highlighting a solid performance despite some year-over-year declines due to unique prior-year gains. Axos Financial announced a net income of $104.7 million for the quarter, with diluted earnings per share of $1.80, reflecting a decrease compared to the same quarter last year due to a significant one-time gain in 2023. Excluding this gain, Axos managed to increase its adjusted earnings and adjusted EPS by 14.5% and 13.8%, respectively, signaling robust underlying growth. Key financial highlights for the quarter include a 22.5% increase in net interest income driven by higher interest income from loans and deposits, while non-interest income saw a significant drop due to the absence of last year’s FDIC Loan Purchase gain. Axos also reported an increase in total assets and deposits, with total assets reaching $23.7 billion, marking a 3.7% rise from June 2024. The company showed effective cost management with a 1.5% reduction in non-interest expenses from the previous quarter. Looking ahead, Axos Financial remains focused on sustaining its growth trajectory through strategic expansions and operational efficiencies, maintaining a positive outlook for continued profitability and asset growth.
