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LPL Financial tops Street 1Q forecasts

BOSTON (AP) _ LPL Financial Holdings Inc. (LPLA) on Thursday reported first-quarter net income of $48.2 million.

The company, based in Boston, said it had earnings of 52 cents per share. Earnings, adjusted for non-recurring costs, came to 66 cents per share.

The results topped Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 36 cents per share.

The financial holding company posted revenue of $1.04 billion in the period, also beating Street forecasts. Four analysts surveyed by Zacks expected $1.01 billion.

LPL Financial shares have risen slightly more than 9 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $38.52, a rise of 44 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 LPLA at https://www.zacks.com/ap/LPLA

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Keywords: LPL Financial, Earnings Report