LOS GATOS, Calif. (AP) _ Netflix Inc. (NFLX) on Tuesday reported first-quarter profit of $344.1 million.

On a per-share basis, the Los Gatos, California-based company said it had profit of 76 cents.

The results surpassed Wall Street expectations. The average estimate of 12 analysts surveyed by Zacks Investment Research was for earnings of 57 cents per share.

The internet video service posted revenue of $4.52 billion in the period, which also topped Street forecasts. Eleven analysts surveyed by Zacks expected $4.49 billion.

For the current quarter ending in July, Netflix said it expects revenue in the range of $4.93 billion. Analysts surveyed by Zacks had expected revenue of $4.49 billion.

Netflix shares have increased 35 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 16 percent. In the final minutes of trading on Tuesday, shares hit $360.48, a rise of 17 percent 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 NFLX at https://www.zacks.com/ap/NFLX