Blackstone Mortgage: Q1 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Blackstone Mortgage Trust Inc. (BXMT) on Wednesday reported first-quarter profit of $117.8 million.
On a per-share basis, the New York-based company said it had profit of 67 cents. Earnings, adjusted for non-recurring costs and stock option expense, came to 79 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 72 cents per share.
The real estate finance company posted revenue of $491.4 million in the period. Its adjusted revenue was $174.2 million.
Blackstone Mortgage shares have declined 20% since the beginning of the year. The stock has declined 46% in the last 12 months.
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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 BXMT at https://www.zacks.com/ap/BXMT
