Ares Capital: Q3 Earnings Snapshot
NEW YORK (AP) — NEW YORK (AP) — Ares Capital Corp. (ARCC) on Tuesday reported third-quarter profit of $500 million.
On a per-share basis, the New York-based company said it had profit of 87 cents. Earnings, adjusted for investment gains, were 59 cents per share.
The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.
The private equity firm posted revenue of $655 million in the period, which missed Street forecasts. Eight analysts surveyed by Zacks expected $655.1 million.
Ares Capital shares have increased roughly 2% since the beginning of the year. The stock has climbed roughly 6% 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 ARCC at https://www.zacks.com/ap/ARCC
