Home Point Capital: Q3 Earnings Snapshot

ANN ARBOR, Mich. (AP) _ Home Point Capital Inc. (HMPT) on Thursday reported a third-quarter loss of $94.3 million, after reporting a profit in the same period a year earlier.

The Ann Arbor, Michigan-based company said it had a loss of 68 cents per share. Losses, adjusted for non-recurring costs, were 58 cents per share.

The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 23 cents per share.

The mortgage originator and servicer posted revenue of $8.3 million in the period, which also did not meet Street forecasts. Four analysts surveyed by Zacks expected $73.8 million.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on HMPT at https://www.zacks.com/ap/HMPT

Categories: Business News