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.
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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
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