SAN MATEO, Calif. (AP) — SAN MATEO, Calif. (AP) — Hercules Capital, Inc. (HTGC) on Thursday reported first-quarter net income of $91 million.
The San Mateo, California-based company said it had profit of 57 cents per share. Earnings, adjusted for investment gains, came to 50 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.
The specialty finance company posted revenue of $121.6 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $119.6 million.
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