AES Raises Its 2009 Earnings

AES Corp. on Friday reported that second-quarter profit dropped, reflecting a year-earlier one-time gain, but the power giant still topped Wall Street's estimate and lifted its earnings target for the full year , MarketWatch reports.

However, adjusted earnings in the second quarter of 2009, excluding one-time events like sales gains, were 28 cents per share, almost 8 cents per share better than the average forecast of Wall Street analysts as calculated by Bloomberg News , reports.

Meanwhile, AES now expects 2009 adjusted earnings of between $1.05 a share and $1.10 a share, up from an earlier forecast of $0.97 to $1.07 a share, while analysts are looking for earnings, before items, of $1.04 a share, according to Reuters Estimates.

The company also raised its 2009 earnings from continuing operations view to between $1.15 and $1.20 a share, from $1.03 to $1.13 a share , Reuters reports.