RWE Reports 17% Increase In Q1 Net Profit

RWE AG RWEOY reported a 17% surge in its first-quarter net profit on Thursday. The company's net profit climbed to €1.82 billion ($2.58 billion), from €1.56 billion, in the year-earlier period. The company's recurrent net income dropped 7.5% to €1.61 billion. Its revenue increased 3.2% to €15.75 billion from €15.27 billion. However, analysts were expecting a net profit of €1.44 billion on revenue of €15.46 billion. RWEOY shares fell 2.19% to close at $61.69 yesterday. Read more from Benzinga's Company news.