Angel Oak: Q1 Earnings Snapshot
ATLANTA (AP) — ATLANTA (AP) — Angel Oak Mortgage Inc. (AOMR) on Thursday reported first-quarter net income of $530,000, after reporting a loss in the same period a year earlier.
The Atlanta-based company said it had net income of 2 cents per share. Losses, adjusted for non-recurring gains, were 37 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The real estate finance company posted revenue of $23.7 million in the period.
Angel Oak shares have increased 53% since the beginning of the year. The stock has dropped 56% 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