Ares Capital: 2Q Earnings Snapshot
NEW YORK (AP) _ Ares Capital Corp. (ARCC) on Tuesday reported second-quarter earnings of $200 million.
On a per-share basis, the New York-based company said it had profit of 47 cents. Earnings, adjusted for non-recurring costs, were 49 cents per share.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.
The private equity firm posted revenue of $382 million in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $362.5 million.
Ares Capital shares have increased 17% since the beginning of the year. The stock has climbed 8% in the last 12 months.