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Calpine Posts 1Q Profit, Beats Street Expectations
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HOUSTON (AP) — Power producer Calpine Corp. on Friday posted a first-quarter profit that exceeded Wall Street expectations as hedging gains and lower costs boosted net income.
The company reported earnings of $32 million, or 7 cents per share, compared with a loss of $214 million, or 44 cents per share, during the first-quarter of 2008, when the company's results were hard hit by its restructuring and emergence from bankruptcy protection.
Analysts polled by Thomson Reuters estimated a loss of 11 cents per share, on average. Analysts typically exclude one-time items. ...
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