UPDATE: PSEG Reports Better-Than-Expected Q2 Earnings

Public Service Enterprise Group Inc PEG released its results for the second quarter on Wednesday. PSEG reported its quarterly earnings at $323 million, or $0.63 per share, up from $224 million, or $0.44 per share, in the year-earlier period. Its adjusted earnings came in at $0.63 per share. However, analysts were expecting earnings of $0.54 per share on revenue of $2.3 billion. PSEG affirmed its 2011 operational earnings forecast in the range of $2.50 to $2.75 per share. PSEG shares dropped 1.26% to close at $32.25 yesterday.