NEW ORLEANS (AP) - Power provider Entergy Corp. parlayed increased electricity usage and sharply lower fuel expenses into an 84 percent gain in fourth-quarter profit.
For the October-through-December period, New Orleans-based Entergy earned $313.8 million, or $1.64 per share, on revenue of $2.5 billion. That's compared with year-ago earnings in the fourth quarter of $170.6 million, or 89 cents per share, on revenue of $3 billion.
Analysts surveyed by Thomson Reuters, on average, had forecast per-share earnings of $1.55 per share.
During the latest quarter, Entergy recorded a 63 percent drop in fuel-related expenses from $1.04 billion a year ago to $382.1 million.
Entergy provides power through its subsidiary to Louisiana, Mississippi, Arkansas and Texas.
Copyright 2010 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.