CHARLOTTE, N.C. (AP) _ Barings BDC, Inc. (BBDC) on Tuesday reported third-quarter net income of $5.2 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Charlotte, North Carolina-based company said it had net income of 10 cents. Earnings, adjusted for investment costs, were 16 cents per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 16 cents per share.
The business development company posted revenue of $19.3 million in the period, missing Street forecasts. Four analysts surveyed by Zacks expected $20.3 million.
Barings BDC shares have climbed 13% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $10.18, a rise of 2% in the last 12 months.