NEW YORK (AP) — NEW YORK (AP) — Ares Capital Corp. (ARCC) on Tuesday reported second-quarter earnings of $331 million.

The New York-based company said it had net income of 59 cents per share. Earnings, adjusted for non-recurring gains, came to 58 cents per share.

The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The private equity firm posted revenue of $634 million in the period, which also topped Street forecasts. Eight analysts surveyed by Zacks expected $623.3 million.

Ares Capital shares have increased 6% since the beginning of the year. The stock has risen slightly more than 1% in the last 12 months.

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