ARLINGTON, Va. (AP) — ARLINGTON, Va. (AP) — The AES Corp. (AES) on Friday reported fourth-quarter earnings of $320 million.
The Arlington, Virginia-based company said it had profit of 45 cents per share. Earnings, adjusted for non-recurring costs, were 81 cents per share.
The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 62 cents per share.
The power company posted revenue of $3.1 billion in the period, missing Street forecasts. Three analysts surveyed by Zacks expected $3.49 billion.
For the year, the company reported profit of $910 million, or $1.26 per share. Revenue was reported as $12.23 billion.
AES shares have decreased nearly 1% since the beginning of the year, while the S&P’s 500 index has stayed nearly flat. The stock has risen 30% 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