Southern reports 11 percent 2Q profit rise

<p>Energy provider Southern Co. reported Thursday an 11.4 percent rise in its second-quarter profit on higher revenue.</p><p>The results, when certain items are excluded, beat Wall Street expectations.</p><p>The Atlanta-based company said it earned $429 million, or 57 cents a share, for the three months ending June 30, compared to a profit of $385 million, or 52 cents a share, for the same period a year earlier.</p><p>Excluding the impact of the company's synthetic fuel business, Southern said it earned $417 million, or 55 cents a share. On that basis, analysts surveyed by Thomson Financial were expecting earnings of 52 cents a share.</p><p>Revenue rose 5 percent to $3.77 billion, compared to $3.59 billion recorded in the same period a year earlier.</p><p>Its shares rose 30 cents to $34.94 in morning trading.</p><p>For the first six months of the year, Southern said it earned $768 million, or $1.02 a share, compared to a profit of $647 million, or 87 cents a share, for the same period a year earlier. Six-month revenue rose to $7.18 billion, compared to $6.66 billion recorded in the prior-year period.</p><p>Southern acquires, builds and operates power production and delivery facilities. One segment generates and sells electricity to retail and wholesale customers in the Southeast. The other segment provides telecommunications, energy products and services.</p><p>The company's holdings include Alabama Power, Georgia Power, Gulf Power and Mississippi Power. Savannah Electric was merged into Georgia Power last year.</p><p>___</p><p>On the Net:</p><p>HASH(0x2e1307c)</p>

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