Investing.com - Red Electrica reported on Wednesday second quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Red Electrica announced earnings per share of €0.3236 on revenue of €487M. Analysts polled by Investing.com anticipated EPS of €0.3055 on revenue of €470.95M.
Red Electrica shares are up 17% from the beginning of the year and are trading at €16.547 , down-from-52-week-high.They are outperforming the IBEX 35 which is up 8.22% from the start of the year.
Red Electrica shares gained 1.03% in intra-day trade the report.
Red Electrica follows other major Utilities sector earnings this month
Red Electrica's report follows an earnings beat by Iberdrola on July 21, who reported EPS of €0.08 on revenue of €8.66B, compared to forecasts EPS of €0.0797 on revenue of €8.15B.
Endesa had missed expectations on Tuesday with second quarter EPS of €0.32 on revenue of €5.28B, compared to forecast for EPS of €0.3708 on revenue of €3.79B.
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