ST. JOHN`S, Newfoundland (AP) — ST. JOHN`S, Newfoundland (AP) — Fortis Inc. (FTS) on Wednesday reported first-quarter net income of $353.8 million.

On a per-share basis, the St. john`S, Newfoundland-based company said it had net income of 69 cents.

The results exceeded Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for earnings of 65 cents per share.

The electric and gas utility posted revenue of $2.31 billion in the period.

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