Investing.com - Red Electrica reported on Wednesday first quarter earnings that beat analysts' forecasts and revenue that topped expectations.
Red Electrica announced earnings per share of €0.3288 on revenue of €500.5M. Analysts polled by Investing.com anticipated EPS of €0.3165 on revenue of €476.67M.
Red Electrica shares are down 0% from the beginning of the year, still down 2.39% from its 52 week high of €19.60 set on April 8. They are outperforming the STOXX 600 which is down 8.93% from the start of the year.
Red Electrica shares gained 2.17% in intra-day trade following the report.
Red Electrica follows other major Utilities sector earnings this month
Red Electrica's report follows an earnings beat by Enagas on Tuesday, who reported EPS of €0.3716 on revenue of €233.9M, compared to forecasts EPS of €0.3679 on revenue of €220.43M.
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