Blend Labs, Inc Q3 Loss Drops, Inline With Estimates

(RTTNews) - Blend Labs, Inc (..) released Loss for third quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at -$43.21 million, or -$0.18 per share. This compares with -$133.98 million, or -$0.57 per share, in last year's third quarter.

Excluding items, Blend Labs, Inc reported adjusted earnings of -$21.44 million or -$0.09 per share for the period.

Analysts on average had expected the company to earn -$0.09 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 26.7% to $40.59 million from $55.35 million last year.

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

-Earnings (Q3): -$43.21 Mln. vs. -$133.98 Mln. last year. -EPS (Q3): -$0.18 vs. -$0.57 last year. -Analyst Estimates: -$0.09 -Revenue (Q3): $40.59 Mln vs. $55.35 Mln last year.

-Guidance: Next quarter revenue guidance: $34.5 - 40.5 Mln