Ares Capital (ARCC) Up on Q2 Earnings Beat as Revenues Rise

Shares of Ares Capital Corporation (ARCC) gained 1.9% following the release of its second-quarter 2024 results. Core earnings of 61 cents per share beat the Zacks Consensus Estimate of 58 cents. The bottom line reflects a rise of 5.2% from the prior-year quarter.Results were primarily driven by an improvement in the total investment income. Also, the company’s portfolio activity was robust in the quarter. However, an increase in expenses acted as an undermining factor.GAAP net income was $332 million or 52 ...