Iberdrola Q1 Net Profit Rises 0.7%

Iberdrola SA IBDRY reported a 0.7% rise in its net profit for the first quarter. Iberdrola's quarterly net profit rose to EUR1.02 billion, versus analysts' estimates of EUR1 billion. Its earnings before interest, taxes, depreciation or amortization (EBITDA) came in at EUR2.37 billion, versus estimates of EUR2.33 billion. The company's sales climbed to EUR9.33 billion, from EUR8.48 billion. Iberdrola shares closed at $17.78 yesterday.