CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Barings BDC, Inc. (BBDC) on Tuesday reported first-quarter net income of $44 million.
The Charlotte, North Carolina-based company said it had profit of 41 cents per share. Earnings, adjusted for investment gains, came to 28 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 30 cents per share.
The business development company posted revenue of $69.8 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $72.4 million.
Barings BDC shares have increased 12% since the beginning of the year. In the final minutes of trading on Tuesday, shares hit $9.58, a climb of 33% in the last 12 months.
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