CHARLOTTE, N.C. (AP) _ Barings BDC, Inc. (BBDC) on Thursday reported first-quarter net income of $33.2 million.
On a per-share basis, the Charlotte, North Carolina-based company said it had profit of 65 cents. Earnings, adjusted for investment gains, came to 16 cents per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 15 cents per share.
The business development company posted revenue of $18.3 million in the period, which also topped Street forecasts. Four analysts surveyed by Zacks expected $18 million.
Barings BDC shares have climbed 11% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.97, a decline of 13% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BBDC at https://www.zacks.com/ap/BBDC