ARLINGTON, Va. (AP) _ The AES Corp. (AES) on Tuesday reported third-quarter profit of $101 million.
On a per-share basis, the Arlington, Virginia-based company said it had net income of 15 cents. Earnings, adjusted for non-recurring costs and to account for discontinued operations, were 35 cents per share.
The results surpassed Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 29 cents per share.
The power company posted revenue of $2.84 billion in the period.
AES expects full-year earnings in the range of $1.15 to $1.25 per share.
AES shares have increased 39 percent since the beginning of the year, while the Standard & Poor's 500 index has increased slightly more than 2 percent. The stock has increased 44 percent in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AES at https://www.zacks.com/ap/AES