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Power Corporation of Canada Q2 Profit Decreases, misses estimates

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

The company's earnings totaled C$527 million, or C$0.78 per share. This compares with C$994 million, or C$1.47 per share, in last year's second quarter.

Excluding items, Power Corporation of Canada reported adjusted earnings of C$584 million or C$0.87 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 (Q2): C$527 Mln. vs. C$994 Mln. last year.
-EPS (Q2): C$0.78 vs. C$1.47 last year.
-Analyst Estimates: C$0.95

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