PennyMac Financial Services Inc. fell short of Wall Street expectations on earnings and revenue in the first quarter.The Westlake Village residential mortgage lender on Thursday reported net income of $377 million ($5.15 a share) for the quarter ending March 31, up from net income of $306 million ($3.73) in the same period a year earlier. Revenue went up by 30 percent to $945 million.Analysts on average expected earnings of $5.74 on revenue of $1 billion, according to Thomson Financial Network.Shares in PennyMac Financial (PFSI) closed down $2.43, or about 4 percent, to $57.61 on the New York Stock Exchange.BlackLine Inc. beat Wall Street estimates on earnings and revenue in the first quarter.The Woodland Hills accounting software developer on Thursday reported adjusted net income of $7.1 million (11 cents a share) for the quarter ending March 31, up from adjusted net income of $6 million (10 cents) in the same period a year earlier. Revenue increased by 20 percent to $98.9 million.Analysts on average expected earnings equal to 5 cents a share on revenue of $96 million, according to Thomson Financial Network.Shares in BlackLine (BL) closed down $3.80, or about 3.5 percent, to $103.65 on the Nasdaq on Wednesday, a day when that market closed up nearly 0.4 percent.Salem Media Holdings Inc. beat Wall Street expectations on earnings and revenue in the first quarter.The Camarillo Christian broadcaster, publisher and online content provider on Thursday reported net income of $323,000 (1 cent a share) for the quarter ending March 31, compared with a net loss of $55 million (-$2.07) in the same period a year earlier. Revenue increased by 1.9 percent to $59.4 million.Analysts on average expected earnings of -1 cent a share on revenue of $58 million, according to Thomson Financial Network.Shares in Salem Media (SALM) closed down 3 cents, or about 1.5 percent, to $1.92 on the Nasdaq.
Velocity Financial Inc. beat Wall Street estimates on earnings in the first quarter but missed on revenue.The Westlake Village alternative lender for small apartment and commercial properties on Thursday reported net income of $3.4 million (2 cents a share) for the quarter ending March 31, up from net income of $2.6 million (13 cents) in the same period a year earlier. Revenue fell by 4 percent to $15.2 million.Analysts on average expected earnings of 2 cents a share on revenue of $19 million, according to Thomson Financial Network.Shares in Velocity Financial (VEL) closed down 2 cents, or a fraction of a percent, to $9.15 on the New York Stock Exchange on Wednesday, a day when the Dow Jones industrial average closed up nearly 1 percent.