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RWE Q1 Net Profit Down 28%

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RWE AG (OTC: RWEOY) reported a drop in its first-quarter profit.

RWE's quarterly net profit fell 28% y/y to EUR1.31 billion, from EUR1.82 billion. However, analysts were expecting a net profit of EUR1.28 billion. Its recurrent after-tax profit fell 20% y/y to EUR1.29 billion, from EUR1.61 billion.

RWE's operating profit declined 13.8% to EUR2.44 billion. Its revenue came in at EUR15.59 billion, versus EUR15.75 billion in the year-ago period. However, analysts were expecting an operating profit of EUR2.42 billion on revenue of EUR16.15 billion.

RWE shares closed at $41.42 yesterday.

Posted-In: profitEarnings News

 

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