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Southern Co. Q1 Profit Decreases, but beats estimates

Southern Co. (SO) announced earnings for first quarter that decreased from last year but beat the Street estimates.

The company's bottom line totaled $1.03 billion, or $0.97 per share. This compares with $1.14 billion, or $1.07 per share, in last year's first quarter.

Excluding items, Southern Co. reported adjusted earnings of $1.03 billion or $0.97 per share for the period.

Analysts on average had expected the company to earn $0.91 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 12.5% to $6.65 billion from $5.91 billion last year.

Southern Co. earnings at a glance (GAAP) :

-Earnings (Q1): $1.03 Bln. vs. $1.14 Bln. last year.
-EPS (Q1): $0.97 vs. $1.07 last year.
-Analyst Estimates: $0.91
-Revenue (Q1): $6.65 Bln vs. $5.91 Bln last year.

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