NEW YORK (AP) — NEW YORK (AP) — Ares Capital Corp. (ARCC) on Wednesday reported fourth-quarter net income of $293 million.

The New York-based company said it had net income of 41 cents per share. Earnings, adjusted for one-time gains and costs, came to 50 cents per share.

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

The private equity firm posted revenue of $793 million in the period, which missed Street forecasts. Five analysts surveyed by Zacks expected $796 million.

For the year, the company reported profit of $1.3 billion, or $1.86 per share. Revenue was reported as $3.05 billion.

Ares Capital shares have dropped slightly more than 5% since the beginning of the year. The stock has decreased 20% in the last 12 months.

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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