Prospect Capital (NASDAQ:PSEC) has reported its fiscal first-quarter financial results for the quarter ended September 30, 2016, and at first glance, it really doesn't look like a strong quarter by any means, as the company missed on both revenue and earnings, while its NAV fell by $.02 per share. But was it really that bad of a quarter? Here, I'll discuss Prospect's earnings in further detail, before giving my updated thoughts on the stock.
The last time I covered Prospect Capital in August, I was surprised by the company's strong earnings, because as readers may remember, I had turned somewhat bearish on Prospect in June given the stock's continued underperformance and falling NAV per share.
