PG&E (PCG) - Get Report shares were rising 1.2% Thursday to $21.95 after the bankrupt energy company reported stronger-than-expected first-quarter earnings though revenue missed expectations.

The San Francisco-based company reported adjusted earnings of $1.04 per share on revenue of $4.01 billion. Analysts were expecting the company to report earnings of 90 cents per share on revenue of $4.17 billion. 

"The people of California look to PG&E to provide safe electric and natural gas service, and this remains our most important responsibility. Over the last several months, the company has heard the calls for change, and has executed a number of actions that position PG&E to be able to address the evolving needs of California. As we position PG&E for the long-term, we are continuing to implement programs that will make the communities we serve safer in the face of extreme weather and wildfire risk, while also recognizing that significant work remains to be done as our state collectively confronts the coming wildfire season and the challenges of climate change," said PG&E CEO Bill Johnson.

Earlier this week, PG&E sought court approval for a $105 million fund to help victims of the wildfires that the company has been found responsible for in 2017 and 2018.