Southern Co. Q2 Profit Decreases, but beats estimates

(RTTNews) - Southern Co. (SO) reported a profit for second quarter that decreased from last year but beat the Street estimates.

The company's bottom line came in at $838 million, or $0.77 per share. This compares with $1.11 billion, or $1.04 per share, in last year's second quarter.

Excluding items, Southern Co. reported adjusted earnings of $868 million or $0.79 per share for the period.

Analysts on average had expected the company to earn $0.75 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 20.2% to $5.75 billion from $7.21 billion last year.

Southern Co. earnings at a glance (GAAP) :

-Earnings (Q2): $838 Mln. vs. $1.11 Bln. last year. -EPS (Q2): $0.77 vs. $1.04 last year. -Analyst Estimates: $0.75 -Revenue (Q2): $5.75 Bln vs. $7.21 Bln last year.