Texas power company Reliant Energy Inc. said first-quarter earnings dropped 14% after energy trading profit tumbled by half.
Net income fell to $225.4 million, or 76 cents a share. Revenue fell 34% to $8.73 billion.
Reliant was projected to earn 47 cents in the first quarter.
Shares of Reliant Energy rose 33 cents to $25.30 on the NYSE.