WESTLAKE VILLAGE, Calif. (AP) — WESTLAKE VILLAGE, Calif. (AP) — PennyMac Financial Services Inc. (PFSI) on Thursday reported fourth-quarter net income of $104.5 million.
The Westlake Village, California-based company said it had net income of $1.95 per share. Earnings, adjusted for one-time gains and costs, came to $2.88 per share.
The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.05 per share.
The mortgage banking and investment management company posted revenue of $470.1 million in the period, which also fell short of Street forecasts. Four analysts surveyed by Zacks expected $523.9 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
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