Apollo Investment Company Up 6.99% To $12.39 After Earnings Beat

Apollo Investment Company (AINV) said before open Tuesday that it earned $0.37 per share in quarter one 2023.

On the revenue line, the company reported $53.4 million, missing estimates by $606 thousand.

In the same quarter a year ago, the company earned $0.39 per share on revenue of $50.6 million.

The stock is up 6.99% to $12.39 after the report.

Despite revenues increasing, earnings decreased, signaling a decline in profit margins.

Wall Street Analysts had an average rating of Buy on the stock prior to the report.

Trading in the five days leading up to the report earned Apollo Investment Company a Bullish Sentiment Rank from InvestorsObserver.

Apollo Investment Company has performed a little below average during the past few months. Before the report, Apollo Investment Company received a Long-Term Technical Rank by InvestorsObserver of 45, putting it in the bottom half of stocks. The firm was recently trading at a 52-week low of $10.01 on June 16, 2022 and set a 52-week high on August 27, 2021 at $14.

Apollo Investment Corp is a us-based closed-end non-diversified management investment company. The company's investment objective is to generate current income and capital appreciation. It mainly invests in various forms of debt investments such as secured and unsecured debt, loan investments and equity in private middle-market companies as well as public companies and in structured products. The company's portfolio includes secured and unsecured debt of private middle-market companies and equity interests such as common stock, preferred stock, warrants or options. It generates its revenue in the form of interest and dividend income from the securities and capital gains on investment securities in portfolio companies.