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PG&E Corp. Q2 Profit Decreases, misses estimates

PG&E Corp. (PCG) revealed earnings for second quarter that decreased from the same period last year and missed the Street estimates.

The company's earnings totaled $356 million, or $0.17 per share. This compares with $397 million, or $0.18 per share, in last year's second quarter.

Excluding items, PG&E Corp. reported adjusted earnings of $536 million or $0.25 per share for the period.

Analysts on average had expected the company to earn $0.28 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter fell 1.9% to $5.12 billion from $5.22 billion last year.

PG&E Corp. earnings at a glance (GAAP) :

-Earnings (Q2): $356 Mln. vs. $397 Mln. last year.
-EPS (Q2): $0.17 vs. $0.18 last year.
-Analyst Estimates: $0.28
-Revenue (Q2): $5.12 Bln vs. $5.22 Bln last year.

-Guidance:
Full year EPS guidance: $1.07 to $1.13

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