Entergy 2nd-quarter profit increases 16 percent

MarketsAssociated Press

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.

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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.