OAKLAND, Calif. (AP) — OAKLAND, Calif. (AP) — Pacific Gas & Electric Co. (PCG) on Thursday reported first-quarter net income of $885 million.
The Oakland, California-based company said it had net income of 39 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, came to 43 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 39 cents per share.
The utility holding company posted revenue of $6.88 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $6.46 billion.
PG&E expects full-year earnings in the range of $1.64 to $1.66 per share.