PG&E Corp. Q1 Profit Increases, beats estimates

(RTTNews) - PG&E Corp. (PCG) released earnings for its first quarter that increased from the same period last year and beat the Street estimates.

The company's bottom line totaled $475 million, or $0.22 per share. This compares with $120 million, or $0.06 per share, in last year's first quarter.

Excluding items, PG&E Corp. reported adjusted earnings of $639 million or $0.30 per share for the period.

Analysts on average had expected the company to earn $0.25 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 22.9% to $5.80 billion from $4.72 billion last year.

PG&E Corp. earnings at a glance (GAAP) :

-Earnings (Q1): $475 Mln. vs. $120 Mln. last year. -EPS (Q1): $0.22 vs. $0.06 last year. -Analyst Estimate: $0.25 -Revenue (Q1): $5.80 Bln vs. $4.72 Bln last year.

-Guidance: Full year EPS guidance: $1.07 to $1.13