PHOENIX (AP) — PHOENIX (AP) — Pinnacle West Capital Corp. (PNW) on Tuesday reported third-quarter profit of $434.2 million.

On a per-share basis, the Phoenix-based company said it had net income of $3.49.

The results exceeded Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of $3.40 per share.

The power company posted revenue of $1.97 billion in the period, which also beat Street forecasts. Three analysts surveyed by Zacks expected $1.94 billion.

Pinnacle West expects full-year earnings to be $5.05 to $5.25 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 PNW at https://www.zacks.com/ap/PNW