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Freddie Mac Net Income Drops In Q4

By RTTNews Staff Writer   ✉  | Published:  | Google News Follow Us  | Join Us

Freddie Mac (FMCC.PK), Thursday announced financial results for the fourth quarter, reporting a net income of $2,777 million compared to $3,222 million in the previous year, primarily due to lower net revenues.

Net revenues declined to $5,764 million from last year's $6,329 million, driven by lower non-interest income, partially offset by higher net interest income.

Comprehensive income for the quarter amounted to $2,784 million compared to $3,185 million in the prior year.

Freddie Mac's stock closed at $7.37, up 1.52 percent on the OTC Markets.

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