LOS ANGELES (AP) — LOS ANGELES (AP) — Crescent Capital BDC, Inc. (CCAP) on Wednesday reported third-quarter net income of $22.6 million, after reporting a loss in the same period a year earlier.
The Los Angeles-based company said it had profit of 61 cents per share. Earnings, adjusted for investment gains, came to 59 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 56 cents per share.
The company posted revenue of $48.2 million in the period.
Crescent Capital BDC shares have increased 27% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $16.26, an increase of 15% 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 CCAP at https://www.zacks.com/ap/CCAP