SEATTLE (AP) _ Broadmark Realty Capital Inc. (BRMK) on Monday reported third-quarter net income of $2.6 million.
The Seattle-based company said it had net income of 2 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, came to 12 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 16 cents per share.
The company posted revenue of $27.1 million in the period, also missing Street forecasts. Three analysts surveyed by Zacks expected $29.9 million.
Broadmark Realty shares have declined 40% since the beginning of the year. In the final minutes of trading on Monday, shares hit $5.63, a fall of 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 BRMK">Zacks stock report on BRMK at https://www.zacks.com/ap/BRMK