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BETHESDA, Md. (AP) _ AGNC Investment Corp. (AGNC) on Monday reported first-quarter net income of $975 million, after reporting a loss in the same period a year earlier.
The Bethesda, Maryland-based company said it had net income of $1.77 per share. Earnings, adjusted for non-recurring gains, came to 76 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 64 cents per share.
The real estate investment trust posted revenue of $528 million in the period. Its adjusted revenue was $457 million.
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AGNC Investment shares have increased 11% since the beginning of the year. In the final minutes of trading on Monday, shares hit $17.36, a climb of 43% 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
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