Ares Capital (ARCC) Gains on Q4 Earnings Beat, Revenue Rise

Shares of Ares Capital Corporation (ARCC) gained 1.3% following the release of its fourth-quarter and 2023 results. Quarterly core earnings of 63 cents per share surpassed the Zacks Consensus Estimate of 59 cents. The bottom line was in line with the prior-year quarter’s figure.Results were primarily aided by an improvement in the total investment income. Also, the company’s portfolio activity was robust in the quarter. However, an increase in expenses hurt the results to some extent.GAAP net income was $41 ...