UPDATE 3-Knight Capital Q1 profit beats Street, boosts shares

(Adds conference call details, updates share movement)

By Ratul Ray Chaudhuri

BANGALORE, April 16 (Reuters) - Knight Capital Group Inc (NITE.O: Quote, Profile, Research) posted a first-quarter profit that topped analysts' expectations as the financial services firm's focus on automation and electronic trading helped offset a difficult credit environment, sending its shares up as much as 13 percent.

"The benefits of automation proved robust even in a volatile market," Sandler O'Neill Partners analyst Richard Repetto said by phone.

The company reported earnings of $32.5 million, or 35 cents a share, compared with profit of $31.9 million, or 31 cents a share, in the year-ago quarter.

Revenue fell 7 percent to $224.9 million.

Analysts expected earnings of 30 cents a share, before special items, on revenue of $215.1 million, according to Reuters Estimates.

Revenue at the company's global markets segment, which offers trade execution products and services, rose 27 percent to $218.8 million, helped by high volatility in markets.

The segment reported pre-tax earnings of $78.9 million, compared with pre-tax earnings of $36.1 million in the year ago quarter.