DENVER (AP) _ SM Energy Co. (SM) on Thursday reported first-quarter net income of $48.8 million.

On a per-share basis, the Denver-based company said it had net income of 39 cents. Earnings, adjusted for one-time gains and costs, came to $1.98 per share.

The results did not meet Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $2.07 per share.

The independent oil and gas company posted revenue of $859.8 million in the period, exceeding Street forecasts. Five analysts surveyed by Zacks expected $704.1 million.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on SM at https://www.zacks.com/ap/SM

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