RWE Reports 46.2% Decline In Net Profit

RWE AG RWEOY reported a 46.2% drop in its net profit for the first nine months of the year. RWE's net profit for the period dropped to EUR1.42 billion, from EUR2.64 billion, in the year-ago period, versus analyst' estimates of EUR1.89 billion. RWE's recurrent after tax profit dropped 44% to EUR1.78 billion, from EUR3.18 billion, versus analysts' estimates of EUR1.99 billion. However, its operating profit dropped to EUR4.27 billion, from EUR6.13 billion, versus analysts' estimates of EUR4.31 billion. RWE reported its revenue at EUR38.17 billion, versus EUR38.51 billion last year. RWE shares dipped 7.87% to clsoe at $37.35 yesterday.