LOS ANGELES (AP) — LOS ANGELES (AP) — Crescent Capital BDC, Inc. (CCAP) on Wednesday reported first-quarter profit of $3.9 million.
On a per-share basis, the Los Angeles-based company said it had net income of 11 cents. Earnings, adjusted for investment costs, were 45 cents per share.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.
The company posted revenue of $42.1 million in the period.
Crescent Capital BDC shares have decreased 13% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.66, a decrease of 8% in the last 12 months.
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