PG&E Posts Fall in Profit

The company cites weak results from its utility operations.
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PG&E

(PCG) - Get Report

posted a fall in third-quarter net profit, hurt in part by weak results from its utility operations.

The San Francisco-based parent of bankrupt utility Pacific Gas & Electric reported net income of $466 million, or $1.19 a share, compared with $771 million, or $2.12 a share, in the same period last year.

Shares of PG&E closed at $11.37 on Tuesday on the

New York Stock Exchange

.