DRAPER, Utah (AP) _ PROG Holdings, Inc. (PRG) on Thursday reported first-quarter net income of $79.5 million, after reporting a loss in the same period a year earlier.

The Draper, Utah-based company said it had net income of $1.16 per share. Earnings, adjusted for amortization costs, were $1.22 per share.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of 91 cents per share.

The rent-to-own company posted revenue of $721 million in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $663.1 million.

PROG Holdings expects full-year earnings in the range of $3.80 to $4.05 per share, with revenue in the range of $2.7 billion to $2.78 billion.

PROG Holdings shares have decreased slightly more than 8% since the beginning of the year. The stock has climbed 77% 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 PRG at https://www.zacks.com/ap/PRG

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