Redwood Trust, Inc. Q2 Earnings Advance 48%

(RTTNews) - Redwood Trust, Inc. (RWT) released a profit for its second quarter that increased from last year.

The company said its bottom line totaled $40 million, or $0.47 per share. This was up from $27 million, or $0.31 per share, in last year's second quarter.

Analysts had expected the company to earn $0.37 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter rose 10.0% to $44 million. This was up from $40 million last year.

Redwood Trust, Inc. earnings at a glance:

-Earnings (Q2): $40 Mln. vs. $27 Mln. last year. -Earnings Growth (Y-o-Y): 48.1% -EPS (Q2): $0.47 vs. $0.31 last year. -EPS Growth (Y-o-Y): 51.6% -Analysts Estimate: $0.37 -Revenue (Q2): $44 Mln vs. $40 Mln last year. -Revenue Change (Y-o-Y): 10.0%

-Guidance: Full year EPS guidance: $1.20 - $1.50