NEW YORK (AP) _ Consolidated Edison Inc. (ED) on Thursday reported first-quarter net income of $424 million.
On a per-share basis, the New York-based company said it had net income of $1.31. Earnings, adjusted for non-recurring costs, were $1.38 per share.
The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of $1.35 per share.
The utility posted revenue of $3.51 billion in the period.
Con Ed shares have increased 11% since the beginning of the year, while the Standard & Poor's 500 index has risen 16%. In the final minutes of trading on Thursday, shares hit $85.23, an increase of 7.5% 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 ED at https://www.zacks.com/ap/ED