Blend Labs, Inc Q2 Loss Decreases, beats estimates

(RTTNews) - Blend Labs, Inc (..) released Loss for second quarter that decreased from the same period last year but missed the Street estimates.

The company's bottom line came in at -$42.82 million, or -$0.18 per share. This compares with -$478.38 million, or -$2.06 per share, in last year's second quarter.

Excluding items, Blend Labs, Inc reported adjusted earnings of -$22.68 million or -$0.09 per share for the period.

Analysts on average had expected the company to earn -$0.13 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 34.7% to $42.82 million from $65.54 million last year.

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

-Earnings (Q2): -$42.82 Mln. vs. -$478.38 Mln. last year. -EPS (Q2): -$0.18 vs. -$2.06 last year. -Analyst Estimates: -$0.13 -Revenue (Q2): $42.82 Mln vs. $65.54 Mln last year.

-Guidance: Next quarter revenue guidance: $38.0 - $42.0 Mln