OAKLAND, Calif. (AP) — OAKLAND, Calif. (AP) — Pacific Gas & Electric Co. (PCG) on Thursday reported first-quarter earnings of $735 million.
On a per-share basis, the Oakland, California-based company said it had profit of 34 cents. Earnings, adjusted for amortization costs and non-recurring costs, came to 37 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 35 cents per share.
The utility holding company posted revenue of $5.86 billion in the period, falling short of Street forecasts. Three analysts surveyed by Zacks expected $6.66 billion.
PG&E expects full-year earnings in the range of $1.33 to $1.37 per share.
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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 PCG at https://www.zacks.com/ap/PCG
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