ARLINGTON, Va. (AP) _ The AES Corp. (AES) on Tuesday reported second-quarter net income of $53 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Arlington, Virginia-based company said it had profit of 8 cents. Earnings, adjusted for non-recurring costs, were 25 cents per share.
The results beat Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 21 cents per share.
The power company posted revenue of $3.47 billion in the period.
AES expects full-year earnings in the range of $1 to $1.10 per share.
AES shares have declined 4.5 percent since the beginning of the year, while the Standard & Poor's 500 index has risen 11 percent. The stock has decreased 9 percent 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
Keywords: AES, Earnings Report
Automated Insights, source Associated Press News