BETHESDA, Md. (AP) — BETHESDA, Md. (AP) — AGNC Investment Corp. (AGNC) on Monday reported second-quarter net income of $286 million, after reporting a loss in the same period a year earlier.
The Bethesda, Maryland-based company said it had net income of 43 cents per share. Earnings, adjusted for non-recurring costs, came to 67 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.
The real estate investment trust posted revenue of $457 million in the period. Its adjusted revenue was -$69 million.
AGNC Investment shares have fallen almost 1% since the beginning of the year. In the final minutes of trading on Monday, shares hit $10.27, a drop of 15% in the last 12 months.
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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 AGNC at https://www.zacks.com/ap/AGNC
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