CHARLOTTE, North Carolina — Duke Energy Corp. (DUK) on Wednesday reported profit of $1.27 billion in its third quarter.
On a per-share basis, the Charlotte, North Carolina-based company said it had net income of $1.80. Earnings, adjusted to account for discontinued operations, came to $1.40 per share.
The results did not meet Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was for earnings of $1.52 per share.
The electric utility posted revenue of $6.4 billion in the period, which also fell short of Street forecasts. Analysts expected $7.31 billion, according to Zacks.
Duke Energy expects full-year earnings in the range of $4.50 to $4.65 per share.
Duke Energy shares have climbed 19 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed nearly 9 percent. The stock has climbed 13 percent in the last 12 months.
Keywords:Duke Energy,Earnings Report