NEW YORK (AP) — NEW YORK (AP) — New Mountain Finance Corp. (NMFC) on Wednesday reported first-quarter earnings of $27.4 million.
On a per-share basis, the New York-based company said it had net income of 26 cents. Earnings, adjusted for investment costs, were 36 cents per share.
The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The business development company posted revenue of $90.6 million in the period, which also missed Street forecasts. Three analysts surveyed by Zacks expected $91.1 million.
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