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TCP Capital meets 3Q profit forecasts

SANTA MONICA, Calif. (AP) _ TCP Capital Corp. (TCPC) on Tuesday reported third-quarter profit of $14.6 million.

On a per-share basis, the Santa Monica, California-based company said it had profit of 25 cents. Earnings, adjusted for investment costs, were 38 cents per share.

The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for earnings of 38 cents per share.

The investment company posted revenue of $43.3 million in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $43.5 million.

TCP Capital shares have dropped almost 6 percent since the beginning of the year. The stock has climbed nearly 3 percent in the last 12 months.

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