Entergy 2Q Profit Drops

By: Associated Press
By: Associated Press

NEW ORLEANS -- Power provider Entergy Corp. posted a 16% drop in second-quarter profit Tuesday, as demand for electricity decreased, and lowered its full-year earnings guidance.

For the three months ending June 30, Entergy earned $226.8 million, or $1.14 per share, on revenue of $2.52 billion. In the year-ago second quarter, Entergy earned $271 million, or $1.37 per share, on revenue of $3.26 billion.

The results fell short of Wall Street forecasts. Analysts polled by Thomson Reuters, on average, had expected per-share earnings of $1.26 and revenue of $3.06 billion.

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