MADRID (AP) — MADRID (AP) — Banco Bilbao Vizcaya Argentaria, S.A. (BBVA) on Monday reported net income of $2.29 billion in its first quarter.

The bank, based in Madrid, said it had earnings of 39 cents per share. Earnings, adjusted for non-recurring costs, were 40 cents per share.

The bank posted revenue of $8.92 billion in the period. Its revenue net of interest expense was $8.92 billion, topping Street forecasts.

Banco Bilbao shares have increased 29% since the beginning of the year. In the final minutes of trading on Monday, shares hit $11.75, an increase of 54% 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 BBVA at https://www.zacks.com/ap/BBVA