WESTLAKE VILLAGE, Calif. (AP) — WESTLAKE VILLAGE, Calif. (AP) — PennyMac Financial Services Inc. (PFSI) on Thursday reported a loss of $36.8 million in its fourth quarter.
The Westlake Village, California-based company said it had a loss of 74 cents per share. Earnings, adjusted for non-recurring costs, came to $1.76 per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.01 per share.
The mortgage banking and investment management company posted revenue of $361.9 million in the period, which missed Street forecasts. Four analysts surveyed by Zacks expected $413.4 million.
For the year, the company reported profit of $144.7 million, or $2.74 per share. Revenue was reported as $1.4 billion.
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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