Duke Energy 2Q profit increases 80 percent, tops forecast

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CHARLOTTE, North Carolina — Duke Energy Corp. (DUK) on Thursday reported profit that climbed by 80 percent in its second quarter, and topped analysts' expectations.

The Charlotte, North Carolina-based company said net income rose to $609 million, or 86 cents per share, from $339 million, or 48 cents per share, in the same quarter a year earlier.

Earnings, adjusted for non-recurring costs and costs related to mergers and acquisitions, were $1.11 per share. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1 per share.

The company said revenue rose 1 percent to $5.95 billion from $5.88 billion in the same quarter a year earlier, and missed Wall Street forecasts. Analysts expected $6.11 billion, according to Zacks.

Duke Energy shares have risen 83 cents, or 1 percent, to $69.84 since the beginning of the year, while the Standard & Poor's 500 index has climbed roughly 4 percent.

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