PPL PPL Corporation

By Mary de Wet

PPL Corp. (PPL) on Thursday reported a 3% increase in its first-quarter profit, but earnings fell short of analysts' estimates.

The Allentown, Pa., utility holding company posted net income of $466 million, or 64 cents a share. Analysts polled by FactSet expected $532 million in profit, or 73 cents a share.

Revenue came to $2.08 billion, down 2.2% from a year ago, the company said. Analysts were targeting $2.19 billion.

PPL reaffirmed its 2019 earnings from ongoing operations forecast of $2.30 to $2.50 a share.

Write to Mary de Wet at mary.dewet@wsj.com

(END) Dow Jones Newswires

May 02, 2019 08:28 ET (12:28 GMT)

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