Southern Co. Q1 Profit Decreases, but beats estimates

(RTTNews) - Southern Co. (SO) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $1.03 billion, or $0.97 per share. This compares with $1.14 billion, or $1.07 per share, in last year's first quarter.

Excluding items, Southern Co. reported adjusted earnings of $1.03 billion or $0.97 per share for the period.

Analysts on average had expected the company to earn $0.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.5% to $6.65 billion from $5.91 billion last year.

Southern Co. earnings at a glance (GAAP) :

-Earnings (Q1): $1.03 Bln. vs. $1.14 Bln. last year. -EPS (Q1): $0.97 vs. $1.07 last year. -Analyst Estimates: $0.91 -Revenue (Q1): $6.65 Bln vs. $5.91 Bln last year.