SVB Financial stock down 9% after Q3 earnings

Shares of SVB Financial Group fell 9% in the extended session Thursday after the banking holding company reported better-than-expected third-quarter earnings. SVB said it earned $274.8 million, or $5.10 a share, in the quarter, compared with $148.6 million, or $2.79 a share, in the third quarter of 2017. Revenue rose to $703 million from $533 million. Analysts polled by FactSet had expected earnings of $4.46 a share on revenue of $666 million. Shares of SVB ended the regular trading session up 2.3%.

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