Entergy 3Q profit rises 19 percent

Entergy Corp. said Monday its third-quarter profit jumped 19 percent, and the energy company announced it plans to spin off its non-nuclear business.

Net income rose to $461.2 million, or $2.30 per share, from $388.9 million, or $1.83 per share. Excluding charges, earnings totaled $382.6 million, or $1.80 per share, in third quarter of 2006.

Revenue improved 1.1 percent to $3.29 billion from $3.25 billion.

On average, analysts surveyed by Thomson Financial forecast a per-share profit of $2.18 and revenue of $3.42 billion.

Entergy shares rose $3.54 to 122.23 at the open of trading Monday.

Entergy, which delivers electricity to 2.6 million utility customers in Arkansas, Louisiana, Mississippi and Texas, said it plans to separate its non non-utility nuclear business and enter into a nuclear services joint venture with the spun-off entity.

The company also said it's on track to grow earnings $1 per share per year, and it reaffirmed its 2007 earnings forecast of $5.40 to $5.70 per share.