CHARLOTTE, N.C. (AP) — CHARLOTTE, N.C. (AP) — Barings BDC, Inc. (BBDC) on Wednesday reported second-quarter net income of $19.4 million.

The Charlotte, North Carolina-based company said it had net income of 18 cents per share. Earnings, adjusted for investment costs, came to 40 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 30 cents per share.

The business development company posted revenue of $74.9 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $70.7 million.

Barings BDC shares have risen 10% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $9.45, a climb of 11% 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