MINNEAPOLIS (AP) — MINNEAPOLIS (AP) — Xcel Energy Inc. (XEL) on Thursday reported first-quarter profit of $488 million.
On a per-share basis, the Minneapolis-based company said it had net income of 88 cents.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 80 cents per share.
The utility posted revenue of $3.65 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $4.01 billion.
Xcel expects full-year earnings to be $3.50 to $3.60 per share.
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