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PennyMac Mortgage: 4Q Earnings Snapshot

WESTLAKE VILLAGE, Calif. (AP) _ PennyMac Mortgage Investment Trust (PMT) on Thursday reported fourth-quarter profit of $58.6 million.

On a per-share basis, the Westlake Village, California-based company said it had net income of 55 cents.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.

The specialty finance company posted revenue of $155 million in the period.

For the year, the company reported profit of $226.4 million, or $2.42 per share. Revenue was reported as $488.8 million.

PennyMac Mortgage shares have increased 5.5% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $23.52, a rise of 15% 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