ATLANTA (AP) — ATLANTA (AP) — Angel Oak Mortgage Inc. (AOMR) on Monday reported first-quarter profit of $20.5 million.
The Atlanta-based company said it had profit of 87 cents per share. Earnings, adjusted for non-recurring gains, were 17 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.
The real estate finance company posted revenue of $32.9 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $32.8 million.
Angel Oak shares have risen almost 3% since the beginning of the year. The stock has declined 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 AOMR at https://www.zacks.com/ap/AOMR
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