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Apollo Investment: Fiscal 2Q Earnings Snapshot

NEW YORK (AP) _ Apollo Investment Corp. (AINV) on Tuesday reported fiscal second-quarter net income of $7.1 million.

On a per-share basis, the New York-based company said it had net income of 10 cents. Earnings, adjusted for investment costs, came to 53 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.

The investment company posted revenue of $70.3 million in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $68.4 million.

Apollo Investment shares have climbed 28% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $15.92, a fall of nearly 1% in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AINV at https://www.zacks.com/ap/AINV