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Hercules Tech: 3Q Earnings Snapshot

October 29, 2020 GMT

PALO ALTO, Calif. (AP) _ Hercules Technology Growth Capital Inc. (HTGC) on Thursday reported third-quarter net income of $43 million.

On a per-share basis, the Palo Alto, California-based company said it had net income of 38 cents. Earnings, adjusted for investment gains, came to 34 cents per share.

The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.

The specialty finance company posted revenue of $70.3 million in the period, also exceeding Street forecasts. Five analysts surveyed by Zacks expected $68 million.

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Hercules Tech shares have declined 20% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $11.19, a fall of 19% 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 HTGC at https://www.zacks.com/ap/HTGC