NEW YORK (AP) — NEW YORK (AP) — Blackstone Mortgage Trust Inc. (BXMT) on Wednesday reported a first-quarter loss of $123.8 million, after reporting a profit in the same period a year earlier.
The New York-based company said it had a loss of 71 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 65 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The real estate finance company posted revenue of $486.1 million in the period. Its adjusted revenue was $142.4 million.
Blackstone Mortgage shares have decreased 10% since the beginning of the year. The stock has climbed 8% 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