U.S. Markets closed

PennyMac: 1Q Earnings Snapshot

WESTLAKE VILLAGE, Calif. (AP) _ PennyMac Financial Services Inc. (PFSI) on Thursday reported first-quarter net income of $46.1 million.

The Westlake Village, California-based company said it had profit of 58 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.

The mortgage banking and investment management company posted revenue of $247.7 million in the period, exceeding Street forecasts. Four analysts surveyed by Zacks expected $246.9 million.

PennyMac shares have climbed 3.5% since the beginning of the year. The stock has increased roughly 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 PFSI at https://www.zacks.com/ap/PFSI