Blend Labs, Inc Q1 Loss Decreases, beats estimates

(RTTNews) - Blend Labs, Inc (..) reported Loss for first quarter that decreased from last year but beat the Street estimates.

The company's earnings totaled -$22.13 million, or -$0.09 per share. This compares with -$67.47 million, or -$0.28 per share, in last year's first quarter.

Excluding items, Blend Labs, Inc reported adjusted earnings of -$15.13 million or -$0.06 per share for the period.

Analysts on average had expected the company to earn -$0.07 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 6.4% to $34.95 million from $37.34 million last year.

Blend Labs, Inc earnings at a glance (GAAP) :

-Earnings (Q1): -$22.13 Mln. vs. -$67.47 Mln. last year. -EPS (Q1): -$0.09 vs. -$0.28 last year. -Revenue (Q1): $34.95 Mln vs. $37.34 Mln last year.