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NCR beats 1Q profit forecasts

DULUTH, Ga. (AP) _ NCR Corp. (NCR) on Thursday reported first-quarter earnings of $57 million.

On a per-share basis, the Duluth, Georgia-based company said it had net income of 14 cents. Earnings, adjusted for non-recurring costs and amortization costs, came to 56 cents per share.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.

The maker of ATMs and other hardware and software to handle payments posted revenue of $1.48 billion in the period.

For the current quarter ending in July, NCR expects its per-share earnings to range from 72 cents to 77 cents.

The company said it expects revenue in the range of $1.59 billion to $1.62 billion for the fiscal second quarter.

NCR expects full-year earnings in the range of $3.32 to $3.42 per share, with revenue ranging from $6.63 billion to $6.75 billion.

NCR shares have increased 10 percent since the beginning of the year. In the final minutes of trading on Thursday, shares hit $44.64, a climb of 45 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 NCR at https://www.zacks.com/ap/NCR

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Keywords: NCR, Earnings Report