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Medallion Financial: 4Q Earnings Snapshot

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NEW YORK (AP) _ Medallion Financial Corp. (MFIN) on Wednesday reported fourth-quarter net income of $6.5 million, after reporting a loss in the same period a year earlier.

The New York-based company said it had net income of 26 cents per share.

The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 25 cents per share.

The business development company posted revenue of $33.2 million in the period. Its adjusted revenue was $25.3 million, which missed Street forecasts. Three analysts surveyed by Zacks expected $33.9 million.

For the year, the company reported that its loss widened to $34.8 million, or $1.42 per share. Revenue was reported as $104.9 million.

Medallion Financial shares have increased 48% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $7.25, a climb of 8% 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 MFIN at https://www.zacks.com/ap/MFIN