NEW YORK (AP) — NEW YORK (AP) — Ares Capital Corp. (ARCC) on Wednesday reported fourth-quarter earnings of $357 million.

On a per-share basis, the New York-based company said it had net income of 55 cents.

The results fell short of Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 58 cents per share.

The private equity firm posted revenue of $759 million in the period, which also fell short of Street forecasts. Seven analysts surveyed by Zacks expected $785 million.

For the year, the company said profit was nearly unchanged at $1.52 billion. Annual earnings per share dropped to $2.44 from $2.68. Revenue was reported as $2.99 billion.

Ares Capital shares have increased almost 9% since the beginning of the year. The stock has increased 19% in the last 12 months.

_____

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ARCC at https://www.zacks.com/ap/ARCC