SANTA CLARA, Calif. (AP) _ SVB Financial Group (SIVB) on Thursday reported first-quarter net income of $515 million.

The Santa Clara, California-based bank said it had earnings of $7.92 per share.

The results surpassed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $5.37 per share.

The financial services firm posted revenue of $1.64 billion in the period. Its revenue net of interest expense was $1.61 billion, which also topped Street forecasts. Five analysts surveyed by Zacks expected $1.43 billion.

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

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