Markets
RWT

Redwood Trust, Inc. Q3 adjusted earnings Miss Estimates

(RTTNews) - Redwood Trust, Inc. (RWT) released a profit for third quarter that decreased from last year.

The company's profit totaled $34 million, or $0.31 per share. This compares with $41 million, or $0.42 per share, in last year's third quarter.

Excluding items, Redwood Trust, Inc. reported adjusted earnings of $43 million or $0.37 per share for the period.

Analysts had expected the company to earn $0.40 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.9% to $34 million from $35 million last year.

Redwood Trust, Inc. earnings at a glance:

-Earnings (Q3): $43 Mln. vs. $36 Mln. last year. -EPS (Q3): $0.37 vs. $0.38 last year. -Analysts Estimate: $0.40 -Revenue (Q3): $34 Mln vs. $35 Mln last year.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

RWT

Latest Markets Videos

    RTTNews

    Founded in the late 1990s by Andrew Mariathasan in New York, with the goal of covering Wall Street for a new generation of investors, RTTNews has expanded steadily over the years to become a trusted provider of content for a wide array of subjects across several platforms. RTT's Financial Newswire is relied upon by some of the world's largest financial institutions, including banks, brokerages, trading platforms and financial exchanges.

    Learn More