UPDATE: AES Q1 Profit Rises 52%

The AES Corp AES reported a 52% rise in its first-quarter profit. AES posted its quarterly profit at $341 million, or $0.44 per share, versus $224 million, or $0.28 per share, in the year-ago period. Excluding other items, AES earned $0.37 per share. However, analysts were expecting earnings of $0.27 per share. Its revenue surged 14% to $4.74 billion. Its gross margin declined to 22.7% from 23.9%. AES shares closed at $12.21 yesterday.