Power Corporation of Canada Q1 Profit Decreases, misses estimates

Power Corporation of Canada (POW.TO) released earnings for first quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings came in at C$478 million, or C$0.71 per share. This compares with C$556 million, or C$0.82 per share, in last year's first quarter.

Excluding items, Power Corporation of Canada reported adjusted earnings of C$515 million or C$0.76 per share for the period.

Analysts on average had expected the company to earn C$0.95 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

Power Corporation of Canada earnings at a glance (GAAP) :

-Earnings (Q1): C$478 Mln. vs. C$556 Mln. last year.
-EPS (Q1): C$0.71 vs. C$0.82 last year.
-Analyst Estimates: C$0.95

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