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BlackRock TCP: 3Q Earnings Snapshot

·1 min read

SANTA MONICA, Calif. (AP) _ BlackRock TCP Capital Corp. (TCPC) on Monday reported third-quarter earnings of $46.5 million.

The Santa Monica, California-based company said it had net income of 81 cents per share. Earnings, adjusted for investment gains, came to 35 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The investment company posted revenue of $42.8 million in the period.

BlackRock TCP shares have dropped 33% since the beginning of the year. In the final minutes of trading on Monday, shares hit $9.42, a fall of 32% 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 TCPC at https://www.zacks.com/ap/TCPC