ATLANTA (AP) — ATLANTA (AP) — Angel Oak Mortgage Inc. (AOMR) on Tuesday reported second-quarter net income of $767,000, after reporting a loss in the same period a year earlier.
The Atlanta-based company said it had profit of 3 cents per share. Earnings, adjusted for non-recurring costs and stock option expense, were 11 cents per share.
The results missed 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 $35.1 million in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $36.2 million.
Angel Oak shares have increased nearly 2% since the beginning of the year. The stock has declined 27% 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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