Prospect Capital Nearly Doubles Net Income in Q2
On a down day for the market, shares of Prospect Capital are slightly higher in post-market trading following the release of the company's Q2 results. For the quarter, total investment income was just over $178 million, which bettered the $166 million in the same period the previous year. Net increase in net assets resulting from operations -- essentially, Prospect's bottom line -- came in at $85.4 million ($0.30 per share), 84% higher than Q2 2013's $46.5 million ($0.24).
Analysts had been expecting total investment income of $174 million and EPS of $0.32.
Following the announcement of the results, the company's stock advanced by 1%, or $0.10, to $10.73 in after-hours trading.
Prospect Capital is one of the quicker-growing firms in the business development company segment. It has managed to grow its asset base from $1.7 billion in September 2011 to nearly $5.2 billion in Q2.
The article Prospect Capital Nearly Doubles Net Income in Q2 originally appeared on Fool.com.Eric Volkman has no position in Prospect Capital. Nor does The Motley Fool. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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