Redwood Trust, Inc. Q3 Earnings Retreat,but beats estimates

(RTTNews) - Redwood Trust, Inc. (RWT) announced a profit for third quarter that dropped from the same period last year.

The company's bottom line totaled $88 million, or $0.65 per share. This compares with $142 million, or $1.02 per share, in last year's third quarter.

Analysts had expected the company to earn $0.39 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Redwood Trust, Inc. earnings at a glance:

-Earnings (Q3): $88 Mln. vs. $142 Mln. last year. -EPS (Q3): $0.65 vs. $1.02 last year. -Analysts Estimate: $0.39