AP NEWS

Hercules Tech: 3Q Earnings Snapshot

October 30, 2019

PALO ALTO, Calif. (AP) _ Hercules Technology Growth Capital Inc. (HTGC) on Wednesday reported third-quarter net income of $19.3 million.

On a per-share basis, the Palo Alto, California-based company said it had net income of 18 cents. Earnings, adjusted for investment costs, were 37 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.

The specialty finance company posted revenue of $69.2 million in the period, which also beat Street forecasts. Four analysts surveyed by Zacks expected $67.5 million.

Hercules Tech shares have increased 25% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $13.83, an increase of 12% 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