Power Company Duke Energy Corp. (posted a higher third-quarter profit than last year when the company took a charge related to the sale of most of its power plants that sell to the wholesale market.

The company said net income totaled $763 million, or 60 per share, compared with $41 million, or 4 cents per share, a year earlier.

Excluding special items and discontinued operations, ongoing earnings were $606 million, or 48 cents per share. On that basis, analysts polled by Reuters Estimates had expected the company to earn 56 cents per share. In the year ago period, the company earned $542 million, or 56 cents per share.

Sales rose 37.8 percent to $4.2 billion in the third quarter.

Since the beginning of the year, Duke Energy shares have gained about 15 percent. The Standard and Poor's utility index has gain of some 16 percent during the same period.