Glaxo: Q1 Earnings Snapshot

BRENTFORD, Britain (AP) _ GlaxoSmithKline PLC (GSK) on Wednesday reported first-quarter profit of $2.42 billion.

On a per-share basis, the Brentford, Britain-based company said it had net income of 96 cents. Earnings, adjusted for one-time gains and costs, were 88 cents per share.

The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 77 cents per share.

The drug developer posted revenue of $13.12 billion in the period.

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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 GSK at https://www.zacks.com/ap/GSK