NEW YORK (AP) _ Consolidated Edison Inc. (ED) on Thursday reported second-quarter profit of $190 million.
On a per-share basis, the New York-based company said it had profit of 57 cents. Earnings, adjusted for non-recurring costs, came to 60 cents per share.
The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 54 cents per share.
The utility posted revenue of $2.72 billion in the period.
Con Ed shares have dropped 18% since the beginning of the year, while the Standard & Poor's 500 index has climbed almost 4%. In the final minutes of trading on Thursday, shares hit $74, a fall of 15% 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 ED at https://www.zacks.com/ap/ED
Automated Insights, source Associated Press News