NRG: 2Q Earnings Snapshot
PRINCETON, N.J. (AP) _ NRG Energy Inc. (NRG) on Thursday reported second-quarter net income of $72 million, after reporting a loss in the same period a year earlier.
The Princeton, New Jersey-based company said it had net income of 23 cents per share. Earnings, adjusted to account for discontinued operations, came to 31 cents per share.
The results fell short of Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 86 cents per share.
The power company posted revenue of $2.92 billion in the period.
NRG shares have increased 12 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 5 percent. The stock has increased 30 percent in the last 12 months.