ALLENTOWN, Pa. (AP) — ALLENTOWN, Pa. (AP) — PPL Corp. (PPL) on Wednesday reported first-quarter earnings of $307 million.

The Allentown, Pennsylvania-based company said it had profit of 42 cents per share. Earnings, adjusted for costs related to mergers and acquisitions and non-recurring costs, came to 54 cents per share.

The results beat Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 52 cents per share.

The energy and utility holding company posted revenue of $2.3 billion in the period.

PPL expects full-year earnings in the range of $1.63 to $1.75 per share.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on PPL at https://www.zacks.com/ap/PPL