Copyright 2019 Hubbard Radio Washington DC, LLC. All rights reserved. This website is not intended for users located within the European Economic Area.
BETHESDA, Md. (AP) _ AGNC Investment Corp. (AGNC) on Wednesday reported fourth-quarter profit of $871 million.
The Bethesda, Maryland-based company said it had net income of $1.56 per share. Earnings, adjusted for non-recurring gains, came to 57 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The real estate investment trust posted revenue of $287 million in the period.
For the year, the company reported profit of $688 million, or $1.16 per share. Revenue was reported as $693 million.
Insight by VMware: Find out how agencies are reaching their fullest cloud potential in this exclusive ebook.
AGNC Investment shares have risen 6% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $18.74, an increase of 3.5% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AGNC at https://www.zacks.com/ap/AGNC
Copyright © 2020 The Associated Press. All rights reserved. This website is not intended for users located within the European Economic Area.