Bankruptcy Settlement Hurts PG&E;’s Results
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From Reuters
PG&E; Corp., parent of California’s largest utility, posted lower second-quarter earnings, as profit was hurt by a credit the San Francisco-based company gave customers as part of its bankruptcy settlement.
Net income fell to $232 million, or 65 cents a share, from $267 million, or 70 cents, a year earlier.
Revenue rose to $3.02 billion from $2.5 billion.
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