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AVEO: 1Q Earnings Snapshot

CAMBRIDGE, Mass. (AP) _ AVEO Pharmaceuticals Inc. (AVEO) on Thursday reported first-quarter net income of $555,000, after reporting a loss in the same period a year earlier.

The Cambridge, Massachusetts-based company said it had net income of 6 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for a loss of 5 cents per share.

The cancer drug company posted revenue of $1.6 million in the period.

The company's shares closed at 91 cents. A year ago, they were trading at $2.23.

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