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PennyMac Mortgage: 4Q Earnings Snapshot

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WESTLAKE VILLAGE, Calif. (AP) _ PennyMac Mortgage Investment Trust (PMT) on Thursday reported fourth-quarter net income of $76.6 million.

On a per-share basis, the Westlake Village, California-based company said it had profit of 78 cents.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 67 cents per share.

The specialty finance company posted revenue of $196.5 million in the period.

For the year, the company reported profit of $52.4 million, or 27 cents per share. Revenue was reported as $469.4 million.

PennyMac Mortgage shares have increased slightly more than 6% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $18.72, a decline of 20% in the last 12 months.

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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