Freddie Mac reports Q3 loss, but revenue surpasses expectations

MCLEAN, Va. - Freddie Mac (OTCQB:FMCC (OTC:FMCC )) reported a loss in the third quarter of 2024, missing analyst estimates, while revenue significantly exceeded expectations. The government-sponsored enterprise, which plays a crucial role in the U.S. housing market, faced challenges in the quarter amid a volatile economic environment.

Freddie Mac posted a loss of -$0.02 per share for the third quarter, falling short of the analyst consensus estimate of $0.90 earnings per share. This represents a substantial decline from the same period last year. However, the company's revenue for the quarter came in at $5.84 billion, surpassing the analyst estimate of $3.61 billion by a significant margin.

The revenue figure represents a strong performance, exceeding expectations by over 60%. This suggests that despite the bottom-line challenges, Freddie Mac's core business activities remained robust during the quarter.

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Source: Investing.com