BlackRock TCP: 3Q Earnings Snapshot
SANTA MONICA, Calif. (AP) _ BlackRock TCP Capital Corp. (TCPC) on Thursday reported third-quarter profit of $15.2 million.
On a per-share basis, the Santa Monica, California-based company said it had net income of 26 cents. Earnings, adjusted for investment costs, came to 42 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.
The investment company posted revenue of $49.5 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $48.1 million.
BlackRock TCP shares have dropped 7 percent since the beginning of the year. The stock has dropped 11 percent in the last 12 months.