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DTE Energy first-quarter profit increases; outlook raised

SAN FRANCISCO (MarketWatch) — DTE Energy Co. late Wednesday reported a rise in its first-quarter profit and increased its earnings outlook range for the year. DTE posted a profit of $212 million, or $1.30 a share, up from $134 million, or 76 cents a share, in the year-ago period. The Detroit-based energy firm booked revenue of $2.57 billion, compared with $2.46 billion last year. Analysts surveyed by FactSet Research estimated a quarterly profit of 75 cents a share on revenue of $2.55 billion. DTE raised its operating earnings guidance range for 2008 to $2.80 to $3.20 a share, from a previous range of $2.70 to $3.10 a share. Analysts expect 2008 earnings of $3.01 a share.
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This entry was posted on Wednesday, April 30th, 2008 at 5:14 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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