NEW ORLEANS (AP) — Entergy Corp. (ETR) on Tuesday reported first-quarter net income of $302.9 million.
The New Orleans-based company said it had profit of $1.65 per share. Earnings, adjusted for non-recurring costs, came to $1.68 per share.
The results surpassed Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $1.30 per share.
The power company posted revenue of $2.92 billion in the period.
Entergy expects full-year earnings in the range of $5.10 to $5.90 per share.
Entergy shares have decreased 11 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 2 percent. The stock has risen nearly 9 percent in the last 12 months.
