WESTLAKE VILLAGE, Calif. (AP) _ PennyMac Mortgage Investment Trust (PMT) on Thursday reported second-quarter profit of $44.2 million.
On a per-share basis, the Westlake Village, California-based company said it had net income of 50 cents.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The specialty finance company posted revenue of $96.4 million in the period.
PennyMac Mortgage shares have climbed 17% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $21.81, a climb of 14% in the last 12 months.