PennyMac Financial Services Pops by Over 5% on Q1 Results

PennyMac Financial Services (NYSE: PFSI) saw a pleasant pop in its share price after announcing the results for its Q1 of fiscal 2020.

For the quarter, the mortgage specialist booked total net revenue of $721.8 million, nearly triple its take in the same period the previous year and well above the average analyst estimate of $664.5 million as tracked by Zack's.

On the bottom line, the company netted just over $306 million, or $3.73 per diluted share. That also represented a substantial year-over-year increase; the Q1 2019 result was a bit over $46 million. Analysts were collectively modeling $3.11 for this most recent quarter.

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Source Fool.com