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BETHESDA, Md. (AP) — BETHESDA, Md. (AP) — AGNC Investment Corp. (AGNC) on Monday reported first-quarter net income of $50 million.
On a per-share basis, the Bethesda, Maryland-based company said it had profit of 2 cents. Earnings, adjusted for non-recurring costs, were 44 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.
The real estate investment trust posted revenue of $846 million in the period. Its adjusted revenue was $159 million.
AGNC Investment shares have decreased 12% since the beginning of the year. In the final minutes of trading on Monday, shares hit $8.14, a decrease of 10% 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 AGNC at https://www.zacks.com/ap/AGNC