BlackRock Tcp Capital (NASDAQ:TCPC) saw its stock plummet 9.42% in Thursday's intraday trading session following the release of the company's underwhelming fourth-quarter earnings results.
The investment management firm reported adjusted net investment income per share of $0.36 for Q4, missing analyst consensus estimates 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 figures appear to have prompted a significant sell-off in TCPC shares, as investors reacted negatively to the company's failure to meet Wall Street's expectations. The steep intraday decline suggests that market participants are concerned about the company's ability to sustain its financial performance going forward.
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