Hercules Tech: 1Q Earnings Snapshot
PALO ALTO, Calif. (AP) _ Hercules Technology Growth Capital Inc. (HTGC) on Monday reported a first-quarter loss of $28.7 million, after reporting a profit in the same period a year earlier.
The Palo Alto, California-based company said it had a loss of 27 cents per share. Earnings, adjusted for investment costs, were 37 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.
The specialty finance company posted revenue of $73.6 million in the period, also topping Street forecasts. Four analysts surveyed by Zacks expected $69.8 million.
Hercules Tech shares have fallen 29% since the beginning of the year. In the final minutes of trading on Monday, shares hit $9.94, a fall of 23% in the last 12 months.