U.S. Markets close in 4 hrs 27 mins

Annaly: 3Q Earnings Snapshot

·1 min read

NEW YORK (AP) _ Annaly Capital Management Inc. (NLY) on Wednesday reported third-quarter net income of $1.02 billion, after reporting a loss in the same period a year earlier.

On a per-share basis, the New York-based company said it had profit of 70 cents. Earnings, adjusted for non-recurring gains, came to 32 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.

The real estate investment trust posted revenue of $562.4 million in the period. Its adjusted revenue was $447.3 million.

Annaly shares have declined 26% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $6.98, a drop of 21% 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 NLY at https://www.zacks.com/ap/NLY