BlackRock TCP: 1Q Earnings Snapshot
SANTA MONICA, Calif. (AP) _ BlackRock TCP Capital Corp. (TCPC) on Monday reported a first-quarter loss of $69.5 million, after reporting a profit in the same period a year earlier.
The Santa Monica, California-based company said it had a loss of $1.18 per share. Earnings, adjusted for investment costs, came to 38 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 37 cents per share.
The investment company posted revenue of $41.3 million in the period.
BlackRock TCP shares have dropped 41% since the beginning of the year. In the final minutes of trading on Monday, shares hit $8.23, a drop of 44% in the last 12 months.