AES: Q3 Earnings Snapshot
ARLINGTON, Va. (AP) — ARLINGTON, Va. (AP) — The AES Corp. (AES) on Thursday reported third-quarter profit of $502 million.
The Arlington, Virginia-based company said it had net income of 71 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 60 cents per share.
The power company posted revenue of $3.29 billion in the period, which did not meet Street forecasts. Three analysts surveyed by Zacks expected $3.63 billion.
AES expects full-year earnings in the range of $1.87 to $1.97 per share.
AES shares have dropped 14% since the beginning of the year, while the S&P's 500 index has increased 20%. In the final minutes of trading on Thursday, shares hit $16.49, a rise of 11% in the last 12 months.
_____
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AES at https://www.zacks.com/ap/AES
