BOSTON (AP) _ Wayfair Inc. (W) on Thursday reported first-quarter net income of $18.2 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Boston-based company said it had profit of 16 cents. Earnings, adjusted for one-time gains and costs, were $1 per share.

The results exceeded Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.

The online home goods retailer posted revenue of $3.48 billion in the period, also beating Street forecasts. Twelve analysts surveyed by Zacks expected $3.39 billion.

Wayfair shares have increased 20% since the beginning of the year. The stock has increased 63% 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 W at https://www.zacks.com/ap/W

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News