NEW YORK (AP) _ Moelis & Co. (MC) on Wednesday reported first-quarter net income of $66.5 million.

The company, based in New York, said it had earnings of $1 per share. Earnings, adjusted for one-time gains and costs, were $1.02 per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 97 cents per share.

The investment bank posted revenue of $263.9 million in the period. Its revenue net of interest expense was $263.9 million, also beating Street forecasts. Three analysts surveyed by Zacks expected $254.2 million.

Moelis shares have climbed 21% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $56.75, a rise of 94% 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 MC at https://www.zacks.com/ap/MC

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