Ares Capital: 2Q Earnings Snapshot
NEW YORK (AP) _ Ares Capital Corp. (ARCC) on Wednesday reported second-quarter profit of $254 million.
On a per-share basis, the New York-based company said it had net income of 60 cents. Earnings, adjusted for non-recurring gains, came to 39 cents per share.
The results matched Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for earnings of 39 cents per share.
The private equity firm posted revenue of $333 million in the period, which topped Street forecasts. Six analysts surveyed by Zacks expected $322.1 million.
Ares Capital shares have risen 7 percent since the beginning of the year. The stock has risen roughly 3 percent in the last 12 months.