UPDATE: Duke Energy Q3 Profit Misses Street View

Duke Energy

reported weaker-than-expected third-quarter earnings. The Charlotte, North Carolina-based company posted a quarterly profit of $1.27 billion, or $1.80 per share, versus a year-ago profit of $1 billion, or $1.42 per share. Excluding certain items, the company's earnings dropped to $1.40 per share from $1.46 per share. Its operating revenue climbed to $6.4 billion from $6.22 billion. However, analysts were projecting earnings of $1.52 per share on revenue of $7.21 billion. Income at its regulated utilities segment came in at $920 million, versus $923 million. However, earnings at the international energy segment slipped to $80 million from $116 million. Income at commercial power segment climbed to $51 million from $15 million. "Although the weather this summer was milder than usual, we remain on track to meet our financial objectives for 2014 and beyond," said President and CEO Lynn Good. Duke Energy affirmed its earnings forecast for the year. Duke Energy shares fell 1.06% to $81.36 in pre-market trading.