E.ON Posts Q3 Net Loss

E.ON AG

posted a net loss in the third quarter. E.ON posted a quarterly net loss of EUR179 million, versus a year-ago profit of EUR173 million. Its net profit in the nine months climbed to EUR2.72 billion from EUR864 million. E.ON's underlying after tax profit rose to EUR4.04 billion from EUR1.59 billion, versus analysts' estimates of EUR3.71 billion. In the first nine months of the year, its earnings before interest, taxes, depreciation and amortization (EBITDA) surged 34.5% to EUR8.82 billion, from EUR6.55 billion, in the year-ago period. However, analysts were expecting earnings of EUR8.48 billion. Its revenue in the nine months surged to EUR93.63 billion from EUR77.51 billion. E.ON shares closed at $20.70 yesterday.