U.S. Markets closed

TPG tops Street 1Q forecasts

FORT WORTH, Texas (AP) _ TPG Specialty Lending Inc. (TSLX) on Wednesday reported first-quarter net income of $28.3 million.

On a per-share basis, the Fort Worth, Texas-based company said it had net income of 47 cents.

The results beat Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 44 cents per share.

The business development company posted revenue of $50.9 million in the period, also surpassing Street forecasts. Four analysts surveyed by Zacks expected $48.8 million.

TPG shares have climbed 11 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $20.70, a climb of 27 percent in the last 12 months.


This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on TSLX at https://www.zacks.com/ap/TSLX


Keywords: TPG Specialty, Earnings Report