Redwood Trust Q2 Profit Rises - Quick Facts

(RTTNews) - Redwood Trust Inc. (RWT) reported second-quarter net income of $66 million or $0.71 per share, compared to $20 million or $0.24 per share in the year-ago quarter.

On average, eight analysts polled by Thomson Reuters expected the company to earn $0.31 per share. Analysts' estimates typically exclude special items.

Further, Redwood also reported estimated REIT taxable income of $20 million or $0.25 per share for the quarter, compared to a taxable income of $17 million or $0.22 per share in the comparable quarter last year.

Meanwhile, net interest income for the quarter rose to $36 million from $31 million in the prior year quarter.