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Exelon quarterly profit tops Wall St
April 23, 2010, New York—Exelon Corp (EXC.N), the nation's largest nuclear power company, posted better-than-expected quarterly profit on Friday and said it expected higher full-year earnings from its wholesale power generating arm.
Reuters The company, which owns the PECO and ComEd utilities in Pennsylvania and Illinois, posted first-quarter earnings of $749 million, or $1.13 per share, up from $712 million, or $1.08 per share, in the year-ago quarter. Excluding one-time items, earnings per share fell to $1.00 from $1.20 a year earlier, but topped the 90 cents per share that analysts on average forecast, according to Thomson Reuters I/B/E/S. Revenue fell 6 percent to $4.46 billion. The company raised the low end of its full-year forecast range, putting the per share profit expectation between $3.70 and $4.00 from the $3.60 to $4.00 it had previously forecast. Shares of Exelon slipped 0.3 percent in premarket trade. |