RWE 2012 Net Profit Drops 28%

RWE AG RWEOY reported a 28% fall in its 2012 net profit. RWE's 2012 net profit dropped to 1.31 billion euros ($1.71 billion), from EUR1.8 billion, in the year-ago period. However, analysts were expecting a profit of EUR2.39 billion. Its operating profit climbed 10.5% to EUR6.42 billion, while revenue gained about 3% to EUR53.23 billion. However, analysts were estimating an operating profit of EUR6 billion on revenue of EUR52.44 billion. RWE shares closed at $37.42 yesterday.