CHICAGO (AP) _ Archer Daniels Midland Co. (ADM) on Tuesday reported first-quarter earnings of $1.05 billion.

On a per-share basis, the Chicago-based company said it had net income of $1.86. Earnings, adjusted for one-time gains and costs, were $1.90 per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.

The agribusiness giant posted revenue of $23.65 billion in the period, also exceeding Street forecasts. Four analysts surveyed by Zacks expected $19.14 billion.

ADM shares have increased 35% since the beginning of the year, while the S&P's 500 index has fallen almost 10%. The stock has risen 53% 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 ADM at https://www.zacks.com/ap/ADM

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