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CYS beats 1Q profit forecasts

WALTHAM, Mass. (AP) _ CYS Investments Inc. (CYS) on Wednesday reported first-quarter profit of $34 million.

On a per-share basis, the Waltham, Massachusetts-based company said it had profit of 19 cents. Earnings, adjusted for investment costs, came to 28 cents per share.

The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 26 cents per share.

The finance company posted revenue of $73.3 million in the period. Its adjusted revenue was $52.1 million.

CYS shares have climbed slightly more than 7 percent since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $8.30, a drop of 1 percent in the last 12 months.

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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 CYS at https://www.zacks.com/ap/CYS

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Keywords: CYS Investments, Earnings Report