NEW YORK (AP) — NEW YORK (AP) — Ares Capital Corp. (ARCC) on Wednesday reported first-quarter net income of $449 million.
The New York-based company said it had net income of 76 cents per share. Earnings, adjusted for non-recurring gains, were 59 cents per share.
The results matched Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was also for earnings of 59 cents per share.
The private equity firm posted revenue of $701 million in the period, which fell short of Street forecasts. Eight analysts surveyed by Zacks expected $701.4 million.
Ares Capital shares have climbed nearly 3% since the beginning of the year. The stock has risen 13% 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 ARCC at https://www.zacks.com/ap/ARCC
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