Why Shares of Silvergate Capital Are Rising Today

Shares of the crypto bank Silvergate Capital (NYSE: SI) were nearly 10% higher as of 9:55 a.m. EST today after the company reported earnings results that beat consensus estimates for the first quarter of 2022.

Silvergate reported nearly $25 million of net income, or roughly $0.79 in earnings per share (EPS), on total revenue of about $60 million. Analysts on average had projected $0.44 EPS and total revenue of about $55.3 million, so it was a strong beat.

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Source Fool.com