Apollo Investment: Fiscal Q4 Earnings Snapshot

By The Associated Press

NEW YORK (AP) _ Apollo Investment Corp. (AINV) on Thursday reported fiscal fourth-quarter net income of $42.4 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the New York-based company said it had profit of 65 cents. Earnings, adjusted for investment gains, came to 39 cents per share.

The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 41 cents per share.

The investment company posted revenue of $50.8 million in the period, which also did not meet Street forecasts. Three analysts surveyed by Zacks expected $52.5 million.

Apollo Investment shares have increased 38% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $14.61, a rise of 60% 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 AINV at https://www.zacks.com/ap/AINV

The Associated Press

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