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Evertec: 1Q Earnings Snapshot

SAN JUAN, Puerto Rico (AP) _ Evertec Inc. (EVTC) on Wednesday reported first-quarter net income of $26.6 million.

The San Juan, Puerto Rico-based company said it had profit of 36 cents per share. Earnings, adjusted for one-time gains and costs, came to 50 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The payment processing company posted revenue of $118.8 million in the period, also surpassing Street forecasts. Three analysts surveyed by Zacks expected $116.2 million.

Evertec expects full-year earnings in the range of $1.84 to $1.92 per share, with revenue in the range of $469 million to $476 million.

Evertec shares have increased 5.5% since the beginning of the year. In the final minutes of trading on Wednesday, shares hit $30.28, a rise of 64% 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 EVTC at https://www.zacks.com/ap/EVTC