ALLENTOWN, Pa. (AP) — ALLENTOWN, Pa. (AP) — PPL Corp. (PPL) on Wednesday reported third-quarter net income of $318 million.
On a per-share basis, the Allentown, Pennsylvania-based company said it had net income of 43 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 48 cents per share.
The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 46 cents per share.
The energy and utility holding company posted revenue of $2.24 billion in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $2.17 billion.
PPL expects full-year earnings in the range of $1.78 to $1.84 per share.
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