Prospect Capital Corporation Reports Decrease in Net Income and Revenue for the Fiscal Year Ending June 30, 2023
Revenue Falls as Net Income Shrinks in Challenging Year for Prospect Capital Corporation
Prospect Capital Corporation(PSEC) and its subsidiaries have release d their consolidated financial statements for the fiscal year ending June 30, 2023. The data reveals a decrease in both net income and revenue compared to the previous fiscal year. These figures highlight the challenges faced by the company in a rapidly changing financial landscape.
Net Income Decline
Prospect Capital Corporation reported a net income applicable to common stockholders of $-172.5 million for the fiscal year ending June 30, 2023. This marks a significant decrease compared to the previous fiscal year, when the company reported a net income of $556.6 million. The decline in net income can be attributed to several factors, including reduced investment income and increased operating expenses.
