CION Investment Corporation Beats Q3 Earnings and Revenue Estimates

CION Investment Corporation reported Q3 earnings of $0.74 per share, beating estimates by 111.43%. Revenues were $78.71 million, surpassing estimates by 49.73%. The company has topped consensus revenue estimates two times over the last four quarters. CION Investment Corporation shares have lost about 20% since the beginning of the year, underperforming the S&P 500's gain of 15.6%. The company's earnings outlook is expected to be in line with the market in the near future, with a Zacks Rank of #3 (Hold).