MILWAUKEE (AP) _ Harley-Davidson Inc. (HOG) on Tuesday reported first-quarter net income of $69.7 million.

The Milwaukee-based company said it had profit of 45 cents per share.

The results exceeded Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 40 cents per share.

The motorcycle maker posted revenue of $1.3 billion in the period. Its adjusted revenue was $1.1 billion, also beating Street forecasts. Six analysts surveyed by Zacks expected $1.02 billion.

Harley-Davidson shares have fallen 49% since the beginning of the year, while the Standard & Poor's 500 index has decreased 11%. The stock has dropped 48% 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 HOG at https://www.zacks.com/ap/HOG

Automated Insights, source Associated Press News