NEW YORK (AP) — NEW YORK (AP) — Rithm Capital (RITM) on Tuesday reported first-quarter profit of $284 million.

The New York-based company said it had profit of 54 cents per share. Earnings, adjusted for non-recurring gains, came to 48 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.

The real estate investment trust posted revenue of $1.29 billion in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $1.08 billion.

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