Spectra Energy earnings up 51 pct on field services

(Adds dateline, new throughout)

NEW YORK, Aug 6 (Reuters) - Pipeline and energy service company Spectra Energy Corp (SE.N) said on Wednesday its second quarter earnings rose 51 percent as higher energy prices boosted demand for its gas field services buiness.

Net income in the quarter rose to $295 million, or $0.47 cents a share, from $196 million, or 31 cents a share, last year.

Excluding one-time items, the company said it earned 44 cents a share. Analysts, on average, had expected the company to earn 42 cents a share in the quarter, according to Reuters Estimates.

Revenue rose to $1.14 billion from $985 million last year.

The bulk of the company's earnings growth came at its field services unit, where operating earnings rose 76 percent to $216 million.

Spectra Energy's CEO Fred Fowler said the company expects full year earnings to significantly exceed $1.56 a share. Analysts, on average, expect the company to earn $1.96 a share in 2008.

Shares of Spectra rose 24 cents to $27.65 in New York Stock Exchange trading. (Reporting by Michael Erman; Editing by Brian Moss)