UPDATE: PPL Posts 49% Rise In Q2 Profit

PPL

reported a 49% rise in its second-quarter earnings and also lifted its full-year profit forecast. PPL now expects full-year profit of $2.25 to $2.40 per share, versus its earlier outlook of $2.15 to $2.40 per share. PPL's quarterly profit surged to $405 million, or $0.63 per share, from $271 million, or $0.46 per share, in the year-ago period. Excluding one-time items, its earnings from ongoing operations dropped to $0.49 from $0.51 per share. Its revenue climbed 35% to $3.45 billion. However, analysts were estimating a profit of $0.46 per share on revenue of $2.63 billion. PPL shares closed at $31.77 yesterday.