NEW YORK (AP) — NEW YORK (AP) — Rithm Capital (RITM) on Friday reported first-quarter profit of $63.2 million.

The New York-based company said it had net income of 7 cents per share. Earnings, adjusted for non-recurring costs, came to 52 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.

The real estate investment trust posted revenue of $768.4 million in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $1.13 billion.

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