ST. JOHN`S, Newfoundland (AP) _ Fortis Inc. (FTS) on Thursday reported second-quarter earnings of $206 million.

The St. john`S, Newfoundland-based company said it had profit of 44 cents per share. Earnings, adjusted for non-recurring costs, were 45 cents per share.

The results did not meet Wall Street expectations. The average estimate of four analysts surveyed by Zacks Investment Research was for earnings of 48 cents per share.

The electric and gas utility posted revenue of $1.73 billion in the period.

Fortis shares have climbed 10% since the beginning of the year. The stock has increased 12% in the last 12 months.

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