UPDATE 1-NV Energy posts Q2 profit above market view

Mon Aug 2, 2010 10:05am EDT

* Q2 EPS $0.16 /shr vs est $0.14

* Q2 oper rev falls 7 pct at $785.4 mln

Aug 2 (Reuters) - Power utility company NV Energy Inc NVE.N posted better-than-expected second-quarter profit, helped mainly by lower operating expenses.

The company, which provides electricity to Las Vegas, posted a consolidated net profit of $36.9 million, or 16 cent a share, compared with $18.4 million, or 8 cents a share, in the year-ago quarter.

Operating revenue fell 7 percent to $785.4 million.

Operating expenses declined 11 percent to $660.6 million, helped by lower fuel cost.

Analysts on average expected the company to earn 14 cents a share, on revenue of $802.2 million, according to Thomson Reuters I/B/E/S.

Shares of the company were up 1 percent at $12.84 in Monday morning trade on the New York Stock Exchange. (Reporting by Vinay Sarawagi in Bangalore; Editing by Gopakumar Warrier)

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