UPDATE 1-Dynegy posts Q1 profit

* Q1 EPS $0.24 vs loss $0.40/shr last year * Rev down 5 pct * Shares up 13 pct premarket May 10 (Reuters) - Electric energy company Dynegy Inc posted a quarterly profit, helped by mark-to-market gains, and retained its 2010 adjusted EBITDA outlook. For the first quarter, the company posted net income of $145 million, or 24 cents a share, compared with a net loss of $335 million, or 40 cents a share, a year earlier. Revenue fell 5 percent to $858 million. Analysts on average expected a loss of 10 cents a share, before items, on revenue of $584.4 million, according to Thomson Reuters I/B/E/S. Dynegy posted quarterly mark-to-market gains of $253 million. The company said with revival of demand, it expects to achieve its previous full-year adjusted earnings before interest, taxes, depreciation, and amortization outlook of between $425 million and $550 million. Shares of the company were up 13 percent at $1.34 in premarket trade Monday. They closed at $1.19 Friday on the New York Stock Exchange. (Reporting by Vinay Sarawagi in Bangalore; Editing by Maju Samuel) ((vinay.sarawagi@thomsonreuters.com; within U.S. +646 223 8780; outside U.S. +91 80 4135 5800; Reuters Messaging: vinay.sarawagi.reuters.com@reuters.net) Keywords: DYNEGY/ COPYRIGHT Copyright Thomson Reuters 2010. All rights reserved.

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