BETHESDA, Md. (AP) _ AGNC Investment Corp. (AGNC) on Monday reported third-quarter net income of $662 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Bethesda, Maryland-based company said it had net income of $1.15. Earnings, adjusted for non-recurring gains, came to 81 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.
The real estate investment trust posted revenue of $302 million in the period. Its adjusted revenue was $494 million.
AGNC Investment shares have declined 20% since the beginning of the year. In the final minutes of trading on Monday, shares hit $14.09, a decrease of 15% in the last 12 months.
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