RWE Swings To Q2 Net Loss

RWE AG RWEOY swung to a net loss in the second quarter. RWE posted a net loss of EUR229 million, versus a EUR486 million net profit in the year-ago period. RWE's net profit in the January-to-June period declined 22.1% y/y to EUR1.59 billion, from EUR2.04 billion. However, analysts were expecting a net profit of EUR1.74 billion. Its operating profit dropped 32.7% y/y to EUR3.34 billion, from EUR4.96 billion. Its revenue came in at EUR27.46 billion, versus analysts' estimates of EUR28.21 billion. RWE shares dropped 8.87% to close at $42.65 yesterday.