HICKSVILLE, N.Y. (AP) — HICKSVILLE, N.Y. (AP) — Flagstar Financial, Inc. (FLG) on Friday reported a loss of $70 million in its second quarter.
The bank, based in Hicksville, New York, said it had a loss of 19 cents per share. Losses, adjusted for one-time gains and costs, came to 14 cents per share.
The results missed Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 12 cents per share.
The bank holding company posted revenue of $1.22 billion in the period. Its revenue net of interest expense was $496 million, which also did not meet Street forecasts. Eight analysts surveyed by Zacks expected $525.6 million.
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