Triplepoint Venture Growth Bdc Down 12.41% To $9.53 After Earnings Miss

Triplepoint Venture Growth Bdc (TPVG) said after close Wednesday that it earned $0.47 per share in quarter four 2023.

On the revenue line, the company reported $33 million, missing estimates by $158 thousand.

In the same quarter a year ago, the company earned $0.58 per share on revenue of $34.9 million.

The stock is down 12.41% to $9.53 after the report.

The firm's higher revenue growth to earnings signals that the firm has not been able to reduce costs and has seen its profit margin decrease.

The average recommendation from Wall Street analysts was a Hold which may get revised based on this new data.

Trading in the five days leading up to the report earned Triplepoint Venture Growth Bdc a Bullish Sentiment Rank from InvestorsObserver.

Prior to the report, InvestorsObserver gave the stock an overall score of 21. Meanwhile, the average Wall Street analyst rated the stock a Hold.

TriplePoint Venture Growth BDC Corp is a closed-end, non-diversified management investment company. Its investment objective is to maximize its total return to stockholders primarily in the form of current income and, to a lesser extent, capital appreciation. The fund focuses on companies operating in the fields of biofuels, business applications software, wireless communications equipment, e-commerce, clothing and accessories, conferencing equipment and services, personal goods, financial institutions and services, entertainment, mixed retailing, and healthcare services.