PG&E Corp. Q2 Profit Increases, Beats Estimates

(RTTNews) - PG&E Corp. (PCG) announced a profit for its second quarter that increased from last year and beat the Street estimates.

The company's bottom line totaled $520 million, or $0.24 per share. This compares with $406 million, or $0.19 per share, in last year's second quarter.

Excluding items, PG&E Corp. reported adjusted earnings of $674 million or $0.31 per share for the period.

Analysts on average had expected the company to earn $0.30 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 13.2% to $5.986 billion from $5.290 billion last year.

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

-Earnings (Q2): $520 Mln. vs. $406 Mln. last year. -EPS (Q2): $0.24 vs. $0.19 last year. -Revenue (Q2): $5.986 Bln vs. $5.290 Bln last year.

-Guidance: Full year EPS guidance: $1.33 to $1.37