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ARLINGTON, Va. (AP) — ARLINGTON, Va. (AP) — The AES Corp. (AES) on Friday reported fourth-quarter net income of $560 million, after reporting a loss in the same period a year earlier.
On a per-share basis, the Arlington, Virginia-based company said it had net income of 79 cents. Earnings, adjusted for one-time gains and costs, were 54 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 34 cents per share.
The power company posted revenue of $2.96 billion in the period, which fell short of Street forecasts. Three analysts surveyed by Zacks expected $3.26 billion.
For the year, the company reported profit of $1.68 billion, or $2.36 per share. Revenue was reported as $12.28 billion.
AES expects full-year earnings in the range of $2.10 to $2.26 per share.
AES shares have fallen 19% since the beginning of the year, while the S&P's 500 index has risen 23%. The stock has fallen 31% 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 AES at https://www.zacks.com/ap/AES