WESTLAKE VILLAGE, Calif. (AP) _ PennyMac Financial Services Inc. (PFSI) on Thursday reported second-quarter earnings of $72.7 million.
On a per-share basis, the Westlake Village, California-based company said it had profit of 92 cents.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.
The mortgage banking and investment management company posted revenue of $303 million in the period.
PennyMac shares have increased 13% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $23.92, an increase of 25% in the last 12 months.