Earnings in quarter soar at FirstEnergy

5/2/2012

AKRON -- FirstEnergy Corp. reported first-quarter earnings Tuesday of $306 million, or 73 cents per share, on revenue of $4.1 billion.

That compares with a profit of $52 million, or 15 cents a share, on revenue of $3.6 billion.

FirstEnergy's earnings were reduced last year by the acquisition of Allegheny Energy for $4.3 billion in stock and the assumption of about $3.8 billion in debt.