PennyMac: Q2 Earnings Snapshot

Associated Press Finance
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WESTLAKE VILLAGE, Calif. (AP) — WESTLAKE VILLAGE, Calif. (AP) — PennyMac Financial Services Inc. (PFSI) on Tuesday reported second-quarter earnings of $98.3 million.

The Westlake Village, California-based company said it had net income of $1.85 per share. Earnings, adjusted for one-time gains and costs, came to $2.67 per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $2.65 per share.

The mortgage banking and investment management company posted revenue of $406.1 million in the period, which did not meet Street forecasts. Four analysts surveyed by Zacks expected $468.4 million.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PFSI at https://www.zacks.com/ap/PFSI