LOS ANGELES (AP) — LOS ANGELES (AP) — Crescent Capital BDC, Inc. (CCAP) on Monday reported second-quarter profit of $20.4 million.
The Los Angeles-based company said it had profit of 55 cents per share. Earnings, adjusted for investment costs, came to 59 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.
The company posted revenue of $49 million in the period.
Crescent Capital BDC shares have risen 3.5% since the beginning of the year. In the final minutes of trading on Monday, shares hit $17.98, an increase of 8% in the last 12 months.
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