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
Latest posts by ET Energy World (see all)
- Electric surge to require flexible power systems: IEA - November 13, 2018
- Coal India Q3 net profit up 4 pc at Rs 3,004 cr - November 13, 2018
- Oil India second-quarter profit rises over 33 per cent, but misses estimates - November 12, 2018