UPDATE: Pepco Q1 Net Profit Up 6.3%

Pepco Holdings Inc

reported a 6.3% rise in its first-quarter earnings. Pepco's quarterly profit climbed to $68 million, or $0.30 per share, from $64 million, or $0.28 per share, in the year-ago period. Its earnings from continuing operations came in at $0.27 per share. Pepco's revenue fell 21% to $1.29 billion. However, analysts were expecting earnings of $0.24 per share on revenue of $1.87 billion. Pepco's operating margin climbed to 10.8% from 9.1%. Pepco shares closed at $18.61 yesterday.