SAN FRANCISCO (AP) _ Gap Inc. (GPS) on Thursday reported fiscal first-quarter net income of $166 million, after reporting a loss in the same period a year earlier.

The San Francisco-based company said it had net income of 43 cents per share. Earnings, adjusted for non-recurring costs, were 48 cents per share.

The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for a loss of 2 cents per share.

The clothing chain posted revenue of $3.99 billion in the period, also beating Street forecasts. Seven analysts surveyed by Zacks expected $3.54 billion.

Gap expects full-year earnings in the range of $1.60 to $1.75 per share.

Gap shares have climbed 74% since the beginning of the year, while the S&P's 500 index has risen 12%. In the final minutes of trading on Thursday, shares hit $35.15, more than tripling 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 GPS at https://www.zacks.com/ap/GPS

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