BETHESDA, Md. (AP) _ AGNC Investment Corp. (AGNC) on Monday reported second-quarter net income of $718 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Bethesda, Maryland-based company said it had net income of $1.24. Earnings, adjusted for non-recurring gains, were 58 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The real estate investment trust posted revenue of $295 million in the period. Its adjusted revenue was $372 million.
AGNC Investment shares have decreased 22% since the beginning of the year. In the final minutes of trading on Monday, shares hit $13.71, a drop of 20% in the last 12 months.