CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Barings BDC, Inc. (BBDC) on Thursday reported third-quarter profit of $18.3 million.
On a per-share basis, the Charlotte, North Carolina-based company said it had net income of 17 cents. Earnings, adjusted for investment costs, were 31 cents per share.
The results met Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was also for earnings of 31 cents per share.
The business development company posted revenue of $70.8 million in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $72.1 million.
Barings BDC shares have climbed 15% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.39, a rise of 5.5% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on BBDC at https://www.zacks.com/ap/BBDC