Freddie Mac reports Q1 EPS (1c) vs. 1c last year

Reports Q1 net revenue $5.9B vs. $5.8B last year. “Freddie Mac (FMCC) earned $2.8 billion of net income in the first quarter, driving the company’s net worth to $62 billion. The company helped more than 313,000 of America’s families buy, rent or refinance a home, with 52% of single-family loan purchases supporting first-time homebuyers and 92% of rental units financed affordable to middle-income renters, such as teachers, police officers and firefighters who are the backbone of our communities. FHFA is working with Freddie Mac to streamline its operations by stripping away unnecessary bureaucracy and eliminating non-essential activities. This work has set the stage for cost savings, supporting mortgage affordability while building an even safer, sounder Freddie Mac, one that better serves its mission and the American people,” said William Pulte, Chair of the Board of Directors.