Pepco Holdings Inc. reported on Thursday its first quarter net income was of $99.2 million or 49 cents per share compared to $51.6 million or 27 cents a share in the same period in 2007.

Pepco shares rose 5.82 percent to $24.57 a share on the New York Stock Exchange in after hours electronic trading Thursday.

The results were superior to estimates made by Thomson Reuters of 35 cents a share.

The company had gains on its revenue recording $2.64 billion from $2.18 billion.