Investing.com - Ares Commercial (NYSE:ACRE) RE reported on Wednesday third quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Ares Commercial RE announced earnings per share of $0.39 on revenue of $45.63M. Analysts polled by Investing.com anticipated EPS of $0.37 on revenue of $25.69M.
Ares Commercial RE shares are down 23.49% from the beginning of the year, still down 24.39% from its 52 week high of $16.48 set on April 18.
Ares Commercial RE follows other major Financial sector earnings this month
Ares Commercial RE's report follows an earnings beat by JPMorgan on October 14, who reported EPS of $3.12 on revenue of $32.7B, compared to forecasts EPS of $2.92 on revenue of $32.13B.
Bank of America had beat expectations on October 17 with third quarter EPS of $0.81 on revenue of $24.5B, compared to forecast for EPS of $0.7816 on revenue of $23.56B.
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