ALLENTOWN, Pa. (AP) _ PPL Corp. (PPL) on Friday reported fourth-quarter profit of $364 million.
On a per-share basis, the Allentown, Pennsylvania-based company said it had net income of 48 cents. Earnings, adjusted for non-recurring costs, came to 57 cents per share.
The results surpassed Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 53 cents per share.
The energy and utility holding company posted revenue of $1.95 billion in the period.
For the year, the company reported profit of $1.75 billion, or $2.37 per share. Revenue was reported as $7.77 billion.
PPL expects full-year earnings to be $2.40 to $2.60 per share.
PPL shares have increased 1% since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 4%.