UPDATE: Pepco Q1 Revenue Up 31%
Pepco Holdings (NYSE: POM) posted a loss in the first quarter.
Pepco posted a quarterly loss of $430 million, or $1.82 per share, versus a year-ago profit of $68 million, or $0.30 per share. Excluding one-time items, its adjusted earnings from continuing operations surged to $0.24 per share from $0.22 per share.
Its revenue fell 31% to $852 million. However, analysts were expecting earnings of $0.24 per share on revenue of $1.45 billion.
Pepco shares closed at $22.55 yesterday.
© 2016 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.