NEW YORK (AP) — NEW YORK (AP) — Ares Capital Corp. (ARCC) on Wednesday reported second-quarter profit of $171 million.
On a per-share basis, the New York-based company said it had profit of 24 cents. Earnings, adjusted for investment costs, came to 47 cents per share.
The results matched Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 47 cents per share.
The private equity firm posted revenue of $768 million in the period, which fell short of Street forecasts. Four analysts surveyed by Zacks expected $769 million.
Ares Capital shares have declined almost 6% since the beginning of the year. The stock has fallen 16% 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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