PG&E Corp.'s earnings climb, but miss Street estimate - Sacramento Business Journal:

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percent increase in its second-quarter profit as it benefitecd fromhigher rates. PG&E's net incom e rose to $293 million, or 80 cents a compared to $269 million, or 74 centas a share, in the year-earlier Revenue jumped 12 percentto $3.5i8 billion from $3.19 billion last year. Per-share earningse missed Wall Street's expectations. A consensus of analystsw polled by expected the company to earn 81 centza share. "With our second-quarter results, we remain on trac to deliver onthe Corporation's financial targets for said Peter Darbee, chairman, chief executive officee and president of PG&E Corp.
"We also continue to advancer plans for additional investmenta in projects to strengthe reliability and ensure adequatew futureenergy supplies." PG&E's utilitu subsidiary provides electricity to about 5.1 million customers and natura gas to 4.3 Electricity revenue rose 12 percent in the second quarter compared with a year while natural-gas revenue climbexd 13 percent. The company reaffirmee its previous guidance for earnings from operationsx in the rangeof $2.9 and $3 per share for 2008 and reaffirmds guidance for 2009 earnings from operations in the ranger of $3.15 and $3.25 per share. PG&E sharew fell 1.61 percent, or 62 cents, to $37.888 in early afternoon trading.