TPG: 3Q Earnings Snapshot
FORT WORTH, Texas (AP) _ TPG Specialty Lending Inc. (TSLX) on Tuesday reported third-quarter earnings of $37.4 million.
The Fort Worth, Texas-based company said it had net income of 57 cents per share. Earnings, adjusted for investment gains, came to 50 cents per share.
The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 49 cents per share.
The business development company posted revenue of $63 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $58.8 million.
TPG shares have risen slightly more than 5 percent since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $20.86, an increase of roughly 3 percent in the last 12 months.