NEW YORK (AP) _ Ares Capital Corp. (ARCC) on Tuesday reported third-quarter net income of $334 million.

The New York-based company said it had profit of 73 cents per share. Earnings, adjusted for investment gains, came to 47 cents per share.

The results surpassed Wall Street expectations. The average estimate of seven analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.

The private equity firm posted revenue of $442 million in the period, also beating Street forecasts. Five analysts surveyed by Zacks expected $438 million.

Ares Capital shares have risen 26% since the beginning of the year. The stock has increased 52% 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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