HOUSTON (AP) _ APA Corporation (APA) on Wednesday reported first-quarter net income of $388 million, after reporting a loss in the same period a year earlier.

The Houston-based company said it had net income of $1.02 per share. Earnings, adjusted for non-recurring gains, came to 91 cents per share.

The results topped Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of 74 cents per share.

The oil and natural gas producer posted revenue of $1.87 billion in the period, also surpassing Street forecasts. Six analysts surveyed by Zacks expected $1.53 billion.

APA shares have increased 48% since the beginning of the year, while the S&P's 500 index has climbed 11%. In the final minutes of trading on Wednesday, shares hit $20.97, a climb of 78% 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 APA at https://www.zacks.com/ap/APA

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News