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Duke Energy profit lags Wall Street view

    NEW YORK (Reuters) - Duke Energy Corp reported higher fourth-quarter earnings as electricity demand from its industrial customers rose, but the results fell short of Wall Street forecasts.

    Net income rose to $427 million, or 32 cents per share, from $346 million, or 26 cents per share, a year earlier.

    Excluding one-time items, earnings per share were 21 cents, lagging the 23 cents that analysts had on average forecast, according to Thomson Reuters I/B/E/S.

    Revenue rose 11 percent to $3.45 billion.

    The company, which announced last month that it planned to buy Progress Energy Inc in a $13.7 billion deal that would create the largest U.S. power company, said it expected 2011 earnings of $1.35 to $1.40 per share

    (Reporting by Matt Daily; Editing by Lisa Von Ahn)

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