NEW YORK (AP) _ New Mountain Finance Corp. (NMFC) on Wednesday reported second-quarter earnings of $23.7 million.
The New York-based company said it had profit of 27 cents per share. Earnings, adjusted for investment costs, came to 31 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The business development company posted revenue of $66.5 million in the period, topping Street forecasts. Three analysts surveyed by Zacks expected $65 million.
New Mountain shares have increased nearly 8% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $13.54, a drop of slightly more than 4% in the last 12 months.