NEW YORK (AP) _ Annaly Capital Management Inc. (NLY) on Wednesday reported first-quarter net income of $2.02 billion.

On a per-share basis, the New York-based company said it had net income of $1.36. Earnings, adjusted for non-recurring gains, came to 28 cents per share.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 23 cents per share.

The real estate investment trust posted revenue of $655.9 million in the period. Its adjusted revenue was $580.9 million.

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

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