HICKSVILLE, N.Y. (AP) — HICKSVILLE, N.Y. (AP) — Flagstar Financial, Inc. (FLG) on Friday reported a loss of $100 million in its first quarter.
The Hicksville, New York-based bank said it had a loss of 26 cents per share. Losses, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 23 cents per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for a loss of 26 cents per share.
The bank holding company posted revenue of $1.24 billion in the period. Its revenue net of interest expense was $490 million, which missed Street forecasts. Six analysts surveyed by Zacks expected $518.8 million.
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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 FLG at https://www.zacks.com/ap/FLG
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