LOS ANGELES (AP) — LOS ANGELES (AP) — Crescent Capital BDC, Inc. (CCAP) on Wednesday reported second-quarter net income of $22.6 million, after reporting a loss in the same period a year earlier.
The Los Angeles-based company said it had profit of 61 cents per share. Earnings, adjusted for investment gains, were 56 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The company posted revenue of $46.7 million in the period.
Crescent Capital BDC shares have climbed 30% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.67, a fall of roughly 2% in the last 12 months.
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