BELLEVUE, Wash. (AP) _ Paccar Inc. (PCAR) on Tuesday reported first-quarter net income of $359.4 million.

On a per-share basis, the Bellevue, Washington-based company said it had profit of $1.03.

The results missed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $1.21 per share.

The truck maker posted revenue of $5.16 billion in the period. Its adjusted revenue was $4.78 billion, also missing Street forecasts. Four analysts surveyed by Zacks expected $5.04 billion.

Paccar shares have decreased 15% since the beginning of the year, while the Standard & Poor's 500 index has declined 13%. The stock has dropped almost 6% 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 PCAR at https://www.zacks.com/ap/PCAR

Automated Insights, source Associated Press News