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Duke Energy posts 1Q profit of $864 million, result tops expectations

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CHARLOTTE, North Carolina — Duke Energy Corp. (DUK) on Friday reported first-quarter net income of $864 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Charlotte, North Carolina-based company said it had net income of $1.22. Earnings, adjusted for one-time gains and costs, came to $1.24 per share.

The results topped Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for earnings of $1.12 per share.

The electric utility posted revenue of $6.07 billion in the period.

Duke Energy expects full-year earnings in the range of $4.55 to $4.75 per share.

Duke Energy shares have dropped 7 percent since the beginning of the year, while the Standard & Poor's 500 index has risen slightly more than 1 percent. The stock has risen 4 percent in the last 12 months.

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

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Keywords: Duke Energy, Earnings Report

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