Duke Energy quarterly profit beats on higher demand


Duke Energy quarterly profit beats on higher demand

U.S. utility Duke Energy Corp’s first-quarter profit beat analysts’ estimates on Thursday, helped by higher demand in its electric utilities business.

Operating revenue from the unit, which accounts for the bulk of Duke’s overall business, rose 7.6 percent to $5.32 billion.

Duke continued to benefit from the new U.S. tax code passed in December, which reduces the corporate income tax rate to 21 percent from 35 percent. The company’s income tax expense in the quarter nearly halved to $181 million from a year earlier. Read More

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