Hercules Tech: 1Q Earnings Snapshot
PALO ALTO, Calif. (AP) _ Hercules Technology Growth Capital Inc. (HTGC) on Thursday reported first-quarter net income of $5.9 million, after reporting a loss in the same period a year earlier.
The Palo Alto, California-based company said it had net income of 7 cents per share. Earnings, adjusted for investment costs, came to 31 cents per share.
The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.
The specialty finance company posted revenue of $48.7 million in the period, which missed Street forecasts. Six analysts surveyed by Zacks expected $49.4 million.
Hercules Tech shares have decreased 5.