Freddie Mac (FMCC) on Tuesday reported second-quarter net income of $4.17 billion, a sharp increase from the $1.4 billion profit it reported in the same period a year earlier.
The McLean, Virginia-based company said it had profit of 8 cents per share.
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The secondary mortgage market operator posted revenue of $6.51 billion in the period.
The company's shares closed at $2.21. A year ago, they were trading at $4.05.
This story has been corrected to show that the company last year had a quarterly profit of $1.4 billion, not a loss.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on FMCC at http://www.zacks.com/ap/FMCC
Keywords: Freddie Mac, Earnings Report, Priority Earnings