Flagstar Financial Inc. Q2 Loss Decreases, But Misses Estimates

(RTTNews) - Flagstar Financial Inc. (FLG) released Loss for second quarter that Decreased from the same period last year and missed the Street estimates.

The company's earnings totaled -$78 million, or -$0.19 per share. This compares with -$333 million, or -$1.14 per share, last year.

Excluding items, Flagstar Financial Inc. reported adjusted earnings of -$60 million or -$0.14 per share for the period.

Analysts on average had expected the company to earn -$0.13 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 26.1% to $496 million from $671 million last year.

Flagstar Financial Inc. earnings at a glance (GAAP) :

-Earnings: -$78 Mln. vs. -$333 Mln. last year. -EPS: -$0.19 vs. -$1.14 last year. -Revenue: $496 Mln vs. $671 Mln last year.