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Home » Store » News » Fannie’s 1Q03 Earnings Exceed Expectations

Fannie’s 1Q03 Earnings Exceed Expectations

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Fannie Mae this week announced better-than-expected earnings for the first quarter of 2003, thanks in part to diligent growth in its retained portfolio and hefty securitization income. The company reported $1.941 billion in first quarter GAAP net income, up 60.5 percent from the same period in 2002 and nearly $1 billion more than the $952.2 million reported for the fourth quarter of last year. Fannie reported GAAP earnings per share of $1.93 – vs.
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