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Article: Freddie Mac Announces Record Earnings for Second Quarter 1999.
- Article from:
- PR Newswire
- Article date:
- July 15, 1999
CopyrightCOPYRIGHT 1999 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Second Quarter 1999 Revenues Surpass $1 Billion;
Second Quarter 1999 Earnings Per Share Up 32 Percent
MCLEAN, Va., July 15 /PRNewswire/ -- Freddie Mac (NYSE: FRE) today announced record diluted earnings per common share of $0.74 for second quarter 1999, a 32 percent increase over second quarter 1998 diluted earnings per common share of $0.56. Net income for the second quarter was $552 million, compared to $414 million for the same period a year ago and $513 million for first quarter 1999.
"Freddie Mac produced excellent results in the second quarter," said Leland C. Brendsel, Chairman and Chief Executive Officer. "Our quarterly revenues ...