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Here's What Key Metrics Tell Us About Rithm (RITM) Q2 Earnings
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Rithm (RITM - Free Report) reported $1.23 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 18.4%. EPS of $0.47 for the same period compares to $0.62 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.13 billion, representing a surprise of +8.78%. The company delivered an EPS surprise of +11.90%, with the consensus EPS estimate being $0.42.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Rithm performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Revenues- Interest income
: $478.65 million versus $492.97 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +20% change.
Revenues- Gain on sale of originated mortgage loans, net
: $153.74 million versus the four-analyst average estimate of $147.75 million. The reported number represents a year-over-year change of +1.3%.
Revenues- Other
: $56.50 million versus $60.68 million estimated by four analysts on average.
Revenues- Asset management
: $109.43 million compared to the $75.01 million average estimate based on four analysts.
Revenues- Servicing revenue, net
: $431.08 million versus $371.33 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -7.4% change.
Shares of Rithm have returned +7.5% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
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Here's What Key Metrics Tell Us About Rithm (RITM) Q2 Earnings
Rithm (RITM - Free Report) reported $1.23 billion in revenue for the quarter ended June 2024, representing a year-over-year increase of 18.4%. EPS of $0.47 for the same period compares to $0.62 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $1.13 billion, representing a surprise of +8.78%. The company delivered an EPS surprise of +11.90%, with the consensus EPS estimate being $0.42.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
As these metrics influence top- and bottom-line performance, comparing them to the year-ago numbers and what analysts estimated helps investors project a stock's price performance more accurately.
Here is how Rithm performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
View all Key Company Metrics for Rithm here>>>Revenues- Interest income
: $478.65 million versus $492.97 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a +20% change.Revenues- Gain on sale of originated mortgage loans, net
: $153.74 million versus the four-analyst average estimate of $147.75 million. The reported number represents a year-over-year change of +1.3%.Revenues- Other
: $56.50 million versus $60.68 million estimated by four analysts on average.Revenues- Asset management
: $109.43 million compared to the $75.01 million average estimate based on four analysts.Revenues- Servicing revenue, net
: $431.08 million versus $371.33 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -7.4% change.Shares of Rithm have returned +7.5% over the past month versus the Zacks S&P 500 composite's -0.4% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.