PennyMac Mortgage Investment Trust (PMT) reported late Tuesday a Q1 loss of $0.01 per diluted share from $0.39 a year earlier.
One analyst polled by FactSet expected earnings of $0.38.
Revenue for the quarter ended March 31 was $44.5 million, down from $74.2 million a year earlier.
Four analysts surveyed by FactSet expected $91.7 million.
Shares were down 2.3% in after-hours trading.