Southern Co. Q1 Profit Decreases, but beats estimates

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

The company's bottom line came in at $862 million, or $0.79 per share. This compares with $1.03 billion, or $0.97 per share, in last year's first quarter.

Excluding items, Southern Co. reported adjusted earnings of $867 million or $0.79 per share for the period.

Analysts on average had expected the company to earn $0.71 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 2.6% to $6.48 billion from $6.65 billion last year.

Southern Co. earnings at a glance (GAAP) :

-Earnings (Q1): $862 Mln. vs. $1.03 Bln. last year. -EPS (Q1): $0.79 vs. $0.97 last year. -Analyst Estimates: $0.71 -Revenue (Q1): $6.48 Bln vs. $6.65 Bln last year.