NEW YORK (Reuters) - Countrywide Financial Corp (NYSE:CFC - News), the largest U.S. mortgage lender, posted a $1.2 billion third-quarter loss on Friday, hurt by write-downs as the U.S. housing market deteriorated.
The quarterly net loss totaled $2.85 per share. That compared with a profit of $647.6 million, or $1.03, a year earlier.
Analysts on average expected a loss of $1.65 per share, according to Reuters Estimates.
Worse than expected, but the market seems to have jumped up on the release.
The quarterly net loss totaled $2.85 per share. That compared with a profit of $647.6 million, or $1.03, a year earlier.
Analysts on average expected a loss of $1.65 per share, according to Reuters Estimates.
Worse than expected, but the market seems to have jumped up on the release.