February 13, 2013 / 12:51 PM / 5 years ago

Duke Energy profit rises, beats expectations

(Reuters) - Duke Energy Corp (DUK.N), the largest power company in the United States, posted an increase in quarterly net income on Wednesday in its second quarterly report since its merger with Progress Energy.

For the fourth quarter, the company posted net income of $586 million, or 62 cents per share, compared with $333 million, or 65 cents per share, a year earlier.

    Excluding special items, Duke earned 70 cents per share, beating the analysts’ average estimate of 64 cents.

    Charlotte, North Carolina-based Duke has 57,000 megawatts of generating capacity and 7.1 million electricity customers in North Carolina, South Carolina, Florida, Indiana, Kentucky and Ohio.

    Reporting by Atossa Araxia Abrahamian; Editing by Lisa Von Ahn

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