Consolidated Edison Q2 Profit Up

(RTTNews) - Consolidated Edison, Inc. (ED) Thursday reported second-quarter net income of $212 million or $0.73 a share, up from $172 million or $0.59 a share last year.

Earnings from ongoing operations, which exclude special items, were $189 million or $0.65 a share, up from $160 million or $0.55 a share last year.

Analysts polled by Thomson Reuters expected the company to report profit of $0.54 per share on revenues of $2.81 billion for the quarter. Analysts' estimates typically exclude special items.

The company now expects its earnings from ongoing operations for the year 2014 to be in the range of $3.70 to $3.85 a share. The company's previous forecast of 2014 earnings was in the range of $3.65 to $3.85 a share. Analysts currently estimate earnings of $3.76 per share.