CHARLOTTE, N.C. (AP) _ Barings BDC, Inc. (BBDC) on Thursday reported first-quarter net income of $22.5 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Charlotte, North Carolina-based company said it had profit of 34 cents. Earnings, adjusted for investment gains, came to 22 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 20 cents per share.

The business development company posted revenue of $30.6 million in the period.

Barings BDC shares have increased 14% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $10.50, a climb of 54% 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 BBDC at https://www.zacks.com/ap/BBDC

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