BlackRock Tcp Capital Corp (TCPC) stock plunged 5.74% in the pre-market session on Thursday, following the company's release of its fourth-quarter earnings report.
The investment management firm reported adjusted net investment income per share of $0.36 for the quarter, missing the analyst consensus estimate of $0.37 by 2.7%. Additionally, TCPC's total investment income of $61.25 million fell short of the expected $65.26 million, representing a 6.15% miss.
The disappointing earnings results appear to have prompted a sell-off in TCPC shares, as investors reacted negatively to the company's failure to meet Wall Street's expectations. The pre-market plunge suggests that market participants are concerned about the company's ability to sustain its financial performance going forward.
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