Redwood Trust, Inc. Earnings Drop In Q2

(RTTNews) - Redwood Trust, Inc. (RWT) revealed a profit for second quarter that decreased from the same period last year.

The company's earnings came in at $90 million, or $0.66 per share. This compares with $165 million, or $1.00 per share, in last year's second quarter.

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 rose 14.8% to $31 million from $27 million last year.

Redwood Trust, Inc. earnings at a glance:

-Earnings (Q2): $90 Mln. vs. $165 Mln. last year. -EPS (Q2): $0.66 vs. $1.00 last year. -Analysts Estimate: $0.40 -Revenue (Q2): $31 Mln vs. $27 Mln last year.