NEW YORK (AP) _ Ares Capital Corp. (ARCC) on Tuesday reported third-quarter profit of $104 million.

On a per-share basis, the New York-based company said it had profit of 21 cents. Earnings, adjusted for investment costs, came to 50 cents per share.

The results met Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was also for earnings of 50 cents per share.

The private equity firm posted revenue of $537 million in the period, beating Street forecasts. Six analysts surveyed by Zacks expected $511.4 million.

Ares Capital shares have declined 14% since the beginning of the year. The stock has declined 14% 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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