NEW YORK (AP) — NEW YORK (AP) — Ares Capital Corp. (ARCC) on Tuesday reported second-quarter earnings of $322 million.
On a per-share basis, the New York-based company said it had profit of 52 cents. Earnings, adjusted for investment costs, came to 61 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.
The private equity firm posted revenue of $755 million in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $714.3 million.
Ares Capital shares have increased slightly more than 4% since the beginning of the year. The stock has increased nearly 6% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARCC at https://www.zacks.com/ap/ARCC
