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Earnings Analysis: 
FPL GroupProfit Surges 55%
Author: 123jump.com Staff
123jump.com
Last Update: 1:39 PM EST October 30 2006



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FPL Group third-quarter net income jumped 55% thanks to the improved FPL Energy subsidiary performance and revenue increase of 34% from a year ago. Verizone third-quarter revenue climbed 26% partially due to the addition of the MCI long-distance business. Clear Channel Communications third-quarter earnings fell 11% hurt by higher expenses and the sale of some of the company''''s operations. Republic Services Inc. posted a 21% jump in profit on higher sales.

 
FPL Group Inc. (FPL: chart), utility owner, reported third-quarter earnings of $524 million, or $1.32 per share, from $339 million, or 87 cents per share, a year earlier, thanks to an increase of customers. Revenue climbed to $4.69 billion from $3.5 billion in the third quarter last year.

Verizon Communications (VZ: chart), communication services worldwide provider, said that its third-quarter earnings increased to $1.92 billion, or 66 cents per share, from a year-ago profit of $1.87 billion, or 67 cents per share. Revenue jumped 26% to $23.25 billion from $18.49 billion in the same period a year earlier.

Clear Channel Communications Inc. (CCU: chart), radio stations operator, reported third-quarter net income of $185.9 million, or 38 cents per share versus $205.5 million, or 38 cents per share a year earlier. Revenue climbed to $1.79 billion versus $1.68 billion in the year-ago period.

Republic Services Inc. (RSG: chart), transfer and disposal services provider, said its profit jumped 21% to $77.3 million, or 58 cents per share from $63.8 million, or 45 cents per share, a year ago. Revenue climbed 8% to $787 million from $730 million a year earlier.
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