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Macquarie: 1Q Earnings Snapshot

NEW YORK (AP) _ Macquarie Infrastructure Co. (MIC) on Wednesday reported first-quarter net income of $70 million.

The New York-based company said it had profit of 79 cents per share. Earnings, adjusted for one-time gains and costs, were $1.68 per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of $1.50 per share.

The investment firm posted revenue of $482 million in the period.

Macquarie shares have climbed 9.5% since the beginning of the year. The stock has climbed slightly more than 6% 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 MIC at https://www.zacks.com/ap/MIC