PG&E: Q3 Earnings Snapshot

OAKLAND, Calif. (AP) — OAKLAND, Calif. (AP) — Pacific Gas & Electric Co. (PCG) on Thursday reported third-quarter profit of $351 million.

The Oakland, California-based company said it had net income of 16 cents per share. Earnings, adjusted for amortization costs and non-recurring costs, came to 24 cents per share.

The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 28 cents per share.

The utility holding company posted revenue of $5.89 billion in the period, surpassing Street forecasts. Three analysts surveyed by Zacks expected $5.82 billion.

PG&E expects full-year earnings in the range of $1.19 to $1.23 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PCG at https://www.zacks.com/ap/PCG