Diversified energy company, FirstEnergy Corporation FE reported second-quarter 2017 operating earnings of 61 cents per share, in line with the Zacks Consensus Estimate. Quarterly earnings were also up 8.9% year over year.Moreover, the earnings remained in the guidance range of 55–65 cents per basic share provided by the company during first-quarter 2017.On a GAAP basis, FirstEnergy reported earnings of 39 cents per share, significantly better than the prior-year loss of $2.56 per share.FirstEnergy Corporation Price, Consensus and EPS Surprise FirstEnergy Corporation Price, Consensus and EPS Surprise | FirstEnergy Corporation QuoteTotal RevenueFirstEnergy generated total revenue of $3,309 million in second-quarter 2017, missing the Zacks Consensus Estimate of $3,415 million by 3.10%.Reported revenues were also down 2.7% from $3,401 million reported a year ago. The top line declined primarily due to lower capacity revenues from Competitive Energy Services.Highlights of the ReleaseTotal electric sales decreased by 361 thousand megawatt-hours (MWh), or 32.8% year over year. Residential sales declined by 541 thousand MWh, or 4.6% while commercial sales fell 159 thousand MWh, or 1.5%. Industrial sales improved by 449 thousand MWh or 3.6% primarily on account of higher usage by shale and steel customers.For the second quarter, FirstEnergy incurred operating expenses of $2,911 million, down 51.2% from $5,969 million a year ago primarily owing to lower unit cost of fuel and cost of purchased power.Operating income in the reported quarter was pegged at $690 million, up from $618 million in the prior-year quarter.Financial UpdateFirstEnergy's cash on hand as of Jun 30, 2017 was $114 million, down from $199 million as of Dec 31, 2016.Long-term debt and other long-term obligations as of Jun 30, 2017 were $20,582 million compared with $18,192 million as of Dec 31, 2016.Net cash provided from operating activities was $1,482 million during the first six months of 2017 compared with $1,472 million provided from operating activities during the first six months of 2016.GuidanceFirstEnergy has provided operating earnings guidance for third-quarter and full-year 2017 in the range of 75–90 cents and $2.70–$3.00 per basic share, respectively.Peer ReleasesNextEra Energy, Inc. NEE reported second-quarter 2017 operating earnings of $1.86 per share, beating the Zacks Consensus Estimate of $1.76 by 5.68%.DTE Energy Company DTE reported second-quarter 2017 adjusted earnings of $1.07 per share, beating the Zacks Consensus Estimate of 99 cents by 8.08%.WEC Energy Group, Inc. WEC reported second-quarter 2017 adjusted earnings of 63 cents per share, compared to the Zacks Consensus Estimate of 59 cents by 6.78%.Zacks RankFirstEnergy currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank stocks here.The Hottest Tech Mega-Trend of AllLast year, it generated $8 billion in global revenues. By 2020, it's predicted to blast through the roof to $47 billion. Famed investor Mark Cuban says it will produce ""the world's first trillionaires,"" but that should still leave plenty of money for regular investors who make the right trades early.See Zacks' 3 Best Stocks to Play This Trend >>Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report WEC Energy Group, Inc. (WEC): Free Stock Analysis Report NextEra Energy, Inc. (NEE): Free Stock Analysis Report FirstEnergy Corporation (FE): Free Stock Analysis Report DTE Energy Company (DTE): Free Stock Analysis Report To read this article on Zacks.com click here.