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Entergy 2nd-quarter profit increases 16 percent

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NEW ORLEANS — Entergy Corp. (ETR) on Tuesday reported earnings that rose by 16 percent in its second quarter, and fell short of analysts' expectations.

The New Orleans-based company said profit after paying preferred dividends increased to $189.4 million, or $1.05 per share, from $163.7 million, or 92 cents per share, in the same quarter a year earlier.

Earnings, adjusted for non-recurring costs, were $1.11 per share. The average per-share estimate of analysts surveyed by Zacks Investment Research was for profit of $1.16.

The power company said revenue climbed 9.4 percent to $3 billion from $2.74 billion in the same quarter a year ago.

Entergy shares have risen $13.08, or 21 percent, to $76.35 since the beginning of the year, while the Standard & Poor's 500 index has increased 7.1 percent. The stock has increased $6.22, or 9 percent, in the last 12 months.

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