TPG: 2Q Earnings Snapshot
FORT WORTH, Texas (AP) _ TPG Specialty Lending Inc. (TSLX) on Wednesday reported second-quarter earnings of $33.6 million.
On a per-share basis, the Fort Worth, Texas-based company said it had profit of 52 cents. Earnings, adjusted for investment costs, came to 56 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 47 cents per share.
The business development company posted revenue of $66.4 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $58.6 million.
TPG shares have dropped slightly more than 1 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $19.54, a drop of nearly 6 percent in the last 12 months.