October 21, 2010 / 12:01 PM / 7 years ago

UPDATE 1-Entergy Q3 profit climbs on hot weather

* Oper profit of $2.76/share tops Wall St view of $2.65

* Revenues up 13 pct on near-record temps

NEW YORK, Oct 21 (Reuters) - Utility owner Entergy Corp (ETR.N) said near-record high temperatures drove its third-quarter profit higher as electricity consumption jumped, although profits at its nuclear power unit slipped.

Net profit rose to $492.9 million, or $2.62 per share, from $455.2 million, or $2.32 per share, in the year-ago quarter.

The company posted operating profit of $2.76 per share, topping the $2.65 per share that analysts on average forecast, according to Thomson Reuters I/B/E/S.

Last week, Entergy said it expected operating profit for the quarter of $2.75 per share.

Revenues rose 13 percent to $3.33 billion.

The company’s nuclear power arm posted a drop of nearly 25 percent in operating profit to $159 million as both planned and unplanned outages at reactors weighed.

Reporting by Matt Daily, editing by Dave Zimmerman

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