ALLENTOWN, Pa. (AP) — ALLENTOWN, Pa. (AP) — PPL Corp. (PPL) on Wednesday reported first-quarter net income of $414 million.
On a per-share basis, the Allentown, Pennsylvania-based company said it had profit of 56 cents. Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were 60 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The energy and utility holding company posted revenue of $2.5 billion in the period, also beating Street forecasts. Three analysts surveyed by Zacks expected $2.39 billion.
PPL expects full-year earnings in the range of $1.75 to $1.87 per share, with revenue in the range of $1.7 million to $1.8 million.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PPL at https://www.zacks.com/ap/PPL
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.