Redwood Trust, Inc. Earnings Advance 74% In Q3

(RTTNews) - Redwood Trust, Inc. (RWT) announced a profit for its third quarter that gained ground compared to the same period last year.

The company said its bottom line totaled $33 million, or $0.39 per share. This was higher than $19 million, or $0.22 per share, in last year's third quarter.

Analysts had expected the company to earn $0.38 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 2.5% to $39 million. This was down from $40 million last year.

Redwood Trust, Inc. earnings at a glance:

-Earnings (Q3): $33 Mln. vs. $19 Mln. last year. -Earnings Growth (Y-o-Y): 73.7% -EPS (Q3): $0.39 vs. $0.22 last year. -EPS Growth (Y-o-Y): 77.3% -Analysts Estimate: $0.38 -Revenue (Q3): $39 Mln vs. $40 Mln last year. -Revenue Change (Y-o-Y): -2.5%