LOS ANGELES (AP) _ Puma Biotechnology Inc. (PBYI) on Thursday reported first-quarter net income of $16.5 million, after reporting a loss in the same period a year earlier.

The Los Angeles-based company said it had profit of 40 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The biopharmaceutical company posted revenue of $98.2 million in the period, also topping Street forecasts. Three analysts surveyed by Zacks expected $74.9 million.

Puma Biotech shares have fallen roughly 6% since the beginning of the year. In the final minutes of trading on Thursday, shares hit $9.68, a drop of 3% 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 PBYI at https://www.zacks.com/ap/PBYI

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