Medallion Financial: Q2 Earnings Snapshot

NEW YORK (AP) — NEW YORK (AP) — Medallion Financial Corp. (MFIN) on Wednesday reported second-quarter net income of $7.4 million.

On a per-share basis, the New York-based company said it had profit of 31 cents.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 27 cents per share.

The business development company posted revenue of $88.9 million in the period. Its adjusted revenue was $61.7 million, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $58.4 million.

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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 MFIN at https://www.zacks.com/ap/MFIN