OAKLAND, Calif. (AP) — OAKLAND, Calif. (AP) — Pacific Gas & Electric Co. (PCG) on Thursday reported third-quarter profit of $576 million.
The Oakland, California-based company said it had profit of 27 cents per share. Earnings, adjusted for non-recurring costs and amortization costs, came to 37 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 32 cents per share.
The utility holding company posted revenue of $5.94 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $6.67 billion.
PG&E expects full-year earnings in the range of $1.34 to $1.37 per share.
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