November 8, 2012 / 12:16 PM / 5 years ago

Duke Energy net income jumps after Progress integration

Nov 8 (Reuters) - Duke Energy Corp, the largest power company in the United States, posted a 26 percent jump in quarterly net income on Thursday, helped by its summer buyout of rival Progress Energy.

For the third quarter, the company posted net income of $594 million, or 85 cents per share, compared with $472 million, or $1.06 per share, in the year-earlier period.

The company’s total shares outstanding increased 57 percent between the periods, due in part to the Progress deal.

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