Redwood Trust: Q2 Earnings Snapshot – Miami Herald

MILL VALLEY, Calif.

Redwood Trust Inc. (RWT) on Wednesday reported second-quarter net income of $90 million.

The Mill Valley, California-based company said it had profit of 66 cents per share. Earnings, adjusted for investment gains, came to 33 cents per share.

The specialty finance company posted revenue of $139 million in the period. Its adjusted revenue was $31 million, topping Street forecasts. Three analysts surveyed by Zacks expected $23.7 million.

Redwood Trust shares have risen 35% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $11.85, a rise of 71% in the last 12 months.