Freddie Mac (FMCC.PK) reported net income of $7.8 billion for the full-year 2016, compared to net income of $6.4 billion for the full-year 2015. Comprehensive income was $7.1 billion for 2016, compared to $5.8 billion, prior year. The company said the increase in the full-year 2016 results was primarily driven by solid business results, as the company benefited from higher single-family guarantee fee income driven by amortization of upfront fees, and two market-related items. Fiscal 2016 net income to stockholders was $97 million compared to a loss of $23 million, prior year. Profit per share was $0.03 compared to a loss of $0.01.
Full year net interest income was $14.38 billion compared to $14.95 billion, a year ago. The company said the decrease in net interest income primarily reflects a decline in the balance of the investments portfolio. Adjusted net interest income was $3.5 billion, a decrease of $1.5 billion from the full-year 2015. Non-interest income was $500 million, for the fiscal year.
Freddie Mac reported fourth quarter net income of $4.8 billion and comprehensive income of $3.9 billion. Net interest income was $3.9 billion, while adjusted net interest income was $809 million. Non-interest income was $4.97 billion, for the quarter. The company reported fourth-quarter net income to shareholders of $372 million or $0.11 per share.
by RTT Staff Writer
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