05:55 PM EDT, 08/07/2024 (MT Newswires) -- Blue Owl Capital (OBDC) reported Q2 earnings late Wednesday of $0.31 per diluted share, down from $0.50 a year earlier.

Analysts polled by Capital IQ expected earnings of $0.46.

Investment income for the quarter ended June 30 rose to $396.8 million from $394.2 million a year earlier. Analysts surveyed by Capital IQ expected revenue of $389.2 million.

The company kept its quarterly dividend at $0.37 a share, payable around Oct. 15 to stockholders of record Sept. 30.

Blue Owl Capital also said it agreed to merge with Blue Owl Capital Corp. III ( OBDE ) with Blue Owl Capital as the surviving company.

The transaction, which requires shareholder approvals, is anticipated to close in Q1 2025.

The merger will increase Blue Owl Capital's investment portfolio on a pro forma basis at fair value to $17.7 billion across 256 portfolio companies, according to a statement.

Shares of Blue Owl Capital rose 4.6% in after-hours trading, and Blue Owl Capital Corp. III ( OBDE ) fell 0.3%.

Price: 15.35, Change: +0.67, Percent Change: +4.56