MORRISVILLE, N.C. (AP) _ ChannelAdvisor Corp. (ECOM) on Thursday reported first-quarter net income of $2 million, after reporting a loss in the same period a year earlier.

The Morrisville, North Carolina-based company said it had profit of 7 cents per share. Earnings, adjusted for stock option expense, came to 17 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 8 cents per share.

The provider of cloud-based e-commerce services posted revenue of $32 million in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $31.5 million.

ChannelAdvisor shares have increased 23% since the beginning of the year. The stock has declined 4% in the last 12 months.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on ECOM at https://www.zacks.com/ap/ECOM

Automated Insights, source Associated Press News