Bankruptcy Settlement Hurts PG&E;’s Results

PG&E; Corp., parent of California’s largest utility, posted lower second-quarter earnings, as profit was hurt by a credit the San Francisco-based company gave customers as part of its bankruptcy settlement.

Net income fell to $232 million, or 65 cents a share, from $267 million, or 70 cents, a year earlier.

Revenue rose to $3.02 billion from $2.5 billion.