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BlackRock TCP: 2Q Earnings Snapshot

August 6, 2020 GMT

SANTA MONICA, Calif. (AP) _ BlackRock TCP Capital Corp. (TCPC) on Thursday reported second-quarter net income of $46.4 million, after reporting a loss in the same period a year earlier.

The Santa Monica, California-based company said it had profit of 80 cents per share. Earnings, adjusted for investment gains, were 36 cents per share.

The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.

The investment company posted revenue of $45.1 million in the period.

BlackRock TCP shares have dropped 29% since the beginning of the year. The stock has decreased 29% 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 TCPC at https://www.zacks.com/ap/TCPC