CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Barings BDC, Inc. (BBDC) on Wednesday reported third-quarter earnings of $22 million.

On a per-share basis, the Charlotte, North Carolina-based company said it had net income of 21 cents. Earnings, adjusted for investment costs, came to 29 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.

The business development company posted revenue of $70.9 million in the period.

Barings BDC shares have increased 14% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.78, a rise of roughly 6% 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 BBDC at https://www.zacks.com/ap/BBDC