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Duke Energy misses 3Q net income and revenue expectations

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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.

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This story was generated by Automated Insights (http://www.automatedinsights.com/ap ) using data from Zacks Investment Research. DUK stock research report from Zacks: http://www.zacks.com/ap/DUK .

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Keywords:Duke Energy,Earnings Report

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