MCLEAN, Va. (AP) _ Gladstone Investment Corp. (GAIN) on Monday reported fiscal second-quarter earnings of $11 million.
The McLean, Virginia-based company said it had profit of 34 cents per share. Earnings, adjusted for investment gains, were 23 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.
The business development company posted revenue of $16.6 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $13.8 million.
Gladstone Investment shares have climbed 39% since the beginning of the year. In the final minutes of trading on Monday, shares hit $12.95, a rise of 24% in the last 12 months.