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ARLINGTON, Va. (AP) _ The AES Corp. (AES) on Friday reported a fourth-quarter loss of $78 million, after reporting a profit in the same period a year earlier.
The Arlington, Virginia-based company said it had a loss of 12 cents per share. Earnings, adjusted for one-time gains and costs, came to 35 cents per share.
The results topped Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 33 cents per share.
The power company posted revenue of $2.43 billion in the period.
For the year, the company reported profit of $303 million, or 45 cents per share. Revenue was reported as $10.19 billion.
AES expects full-year earnings in the range of $1.40 to $1.48 per share.
AES shares have dropped 8% since the beginning of the year, while the Standard & Poor’s 500 index has declined roughly 7%. The stock has increased almost 7% 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
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