Blend Labs, Inc Q1 Loss Decreases, beats estimates

(RTTNews) - Blend Labs, Inc (..) reported Loss for first quarter that decreased from last year but missed the Street estimates.

The company's bottom line came in at -$67.47 million, or -$0.28 per share. This compares with -$73.55 million, or -$0.32 per share, in last year's first quarter.

Excluding items, Blend Labs, Inc reported adjusted earnings of -$35.62 million or -$0.15 per share for the period.

Analysts on average had expected the company to earn -$0.18 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 47.8% to $37.34 million from $71.52 million last year.

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

-Earnings (Q1): -$67.47 Mln. vs. -$73.55 Mln. last year. -EPS (Q1): -$0.28 vs. -$0.32 last year. -Analyst Estimates: -$0.18 -Revenue (Q1): $37.34 Mln vs. $71.52 Mln last year.

-Guidance: Next quarter revenue guidance: $39.5 - 41.0 Mln