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Con Ed: 3Q Earnings Snapshot

·1 min read

NEW YORK (AP) _ Consolidated Edison Inc. (ED) on Thursday reported third-quarter profit of $493 million.

The New York-based company said it had profit of $1.47 per share. Earnings, adjusted for non-recurring costs, came to $1.48 per share.

The results fell short of Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $1.51 per share.

The utility posted revenue of $3.33 billion in the period.

Con Ed shares have declined 12% since the beginning of the year, while the Standard & Poor's 500 index has risen almost 9%. In the final minutes of trading on Thursday, shares hit $79.73, a fall of almost 10% in the last 12 months.

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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