NEWARK, N.J. (AP) _ Public Service Enterprise Group Inc. (PEG) on Thursday reported fourth-quarter net income of $445 million.

On a per-share basis, the Newark, New Jersey-based company said it had net income of 88 cents. Earnings, adjusted for non-recurring gains, were 69 cents per share.

The results exceeded Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for earnings of 68 cents per share.

The parent company of PSEG Power and Public Service Electric & Gas Co. posted revenue of $3.06 billion in the period, which also topped Street forecasts. Three analysts surveyed by Zacks expected $2.5 billion.

For the year, the company reported a loss of $648 million, or $1.29 per share. Revenue was reported as $9.72 billion.

PSEG expects full-year earnings in the range of $3.35 to $3.55 per share.

This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PEG at https://www.zacks.com/ap/PEG

Copyright by Automated Insights, Inc. All rights reserved., source Associated Press News