Granite Point Mortgage Trust Inc. Q2 Loss Decreases, Beats Estimates

(RTTNews) - Granite Point Mortgage Trust Inc. (GPMT) released Loss for second quarter that decreased from the same period last year and beat the Street estimates.

The company's earnings totaled -$16.96 million, or -$0.35 per share. This compares with -$66.67 million, or -$1.31 per share, last year.

Analysts on average had expected the company to earn -$0.79 per share. Analysts' estimates typically exclude special items.

The company's revenue for the period fell 30.3% to $33.80 million from $48.48 million last year.

Granite Point Mortgage Trust Inc. earnings at a glance (GAAP) :

-Earnings: -$16.96 Mln. vs. -$66.67 Mln. last year. -EPS: -$0.35 vs. -$1.31 last year. -Revenue: $33.80 Mln vs. $48.48 Mln last year.