Manhattan Bridge Capital, Inc. announced its financial results for the second quarter ended June 30, 2025, reporting total revenues of approximately $2,355,000. This marks a 3.6% decrease from the $2,443,000 reported in the second quarter of 2024. The revenue decline was primarily due to lower interest income, stemming from a reduction in loans receivable, although this was partially offset by an increase in origination fees.
Net income for the second quarter of 2025 remained stable at approximately $1,413,000, or $0.12 per basic and diluted share, a nominal increase of $4,000 compared to $1,409,000, or $0.12 per share, in the prior year's quarter. For the six months ended June 30, 2025, total revenues decreased by 7.7% to $4,629,000, and net income decreased by 3.4% to $2,786,000, or $0.24 per share, compared to the same period in 2024.
CEO Assaf Ran stated that interest rates continue to weigh on the real estate markets, resulting in a slower pace of loan closings and longer loan terms, evidenced by a higher amount of extended loans. Despite these market conditions, the company managed to deliver another quarter with $0.12 in net earnings. As of June 30, 2025, total shareholders' equity was approximately $43,427,000.
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