The company reported a profit of $253.3 million, or 38 cents a share, marking a substantial increase from the $56.3 million, or 4 cents a share, recorded in the prior quarter. On an adjusted basis, earnings available for distribution reached 55 cents a share, comfortably beating the 50-cent estimate anticipated by analysts surveyed by FactSet.
In section Market Quotes
Rithm Capital Shares Surge After Earnings Beat
Rithm Capital shares climbed 6.7% to $9.26 on Friday following a third-quarter performance that outpaced Wall Street expectations. The alternative asset manager posted a significant profit jump, signaling a robust recovery from its second-quarter results as both revenue and earnings per share exceeded consensus forecasts.
Top-line growth mirrored this momentum, with revenue climbing to $1.76 billion. This figure surpassed the $1.47 billion expected by analysts and represents a sharp rise from the $1.28 billion reported in the second quarter. Despite Friday's gains, the stock remains down 15% for the year.
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