NEW YORK (AP) — NEW YORK (AP) — Ready Capital Corporation (RC) on Thursday reported a loss of $53.7 million in its second quarter.
The New York-based company said it had a loss of 34 cents per share. Losses, adjusted for non-recurring costs and to account for discontinued operations, came to 14 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 1 cent per share.
The real estate investment trust posted revenue of $152.7 million in the period. Its adjusted revenue was $16.9 million, which also missed Street forecasts. Three analysts surveyed by Zacks expected $38.3 million.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RC at https://www.zacks.com/ap/RC
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