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ARLINGTON, Va. (AP) _ The AES Corp. (AES) on Thursday reported fourth-quarter net income of $318 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 47 cents. Earnings, adjusted for non-recurring costs, came to 48 cents per share.
The results topped Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 45 cents per share.
The power company posted revenue of $2.56 billion in the period.
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For the year, the company reported profit of $46 million, or 7 cents per share. Revenue was reported as $9.66 billion.
AES expects full-year earnings in the range of $1.50 to $1.58 per share.
AES shares have risen 19% since the beginning of the year, while the Standard & Poor’s 500 index has increased 4.5%. The stock has climbed 38% 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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