OAKLAND, Calif. (AP) — OAKLAND, Calif. (AP) — Pacific Gas & Electric Co. (PCG) on Thursday reported second-quarter net income of $549 million.
The Oakland, California-based company said it had net income of 24 cents per share. Earnings, adjusted for non-recurring costs, were 31 cents per share.
The results missed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The utility holding company posted revenue of $5.9 billion in the period, also falling short of Street forecasts. Three analysts surveyed by Zacks expected $6.32 billion.
PG&E expects full-year earnings in the range of $1.48 to $1.52 per share.
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