WESTLAKE VILLAGE, Calif. (AP) _ PennyMac Mortgage Investment Trust (PMT) on Thursday reported first-quarter profit of $53.5 million.
On a per-share basis, the Westlake Village, California-based company said it had profit of 68 cents.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 42 cents per share.
The specialty finance company posted revenue of $106.6 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $89.1 million.
PennyMac Mortgage shares have increased 12% since the beginning of the year. The stock has climbed 19% 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 PMT at https://www.zacks.com/ap/PMT