NEW YORK (AP) _ Ares Capital Corp. (ARCC) on Wednesday reported second-quarter earnings of $478 million.

The New York-based company said it had profit of $1.09 per share. Earnings, adjusted for non-recurring gains, came to 53 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 43 cents per share.

The private equity firm posted revenue of $459 million in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $386 million.

Ares Capital shares have increased 19% since the beginning of the year. The stock has increased 47% 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 ARCC at https://www.zacks.com/ap/ARCC

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