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Enbridge Q2 Profit Beats Expectations

Canada's No.2 pipeline company Enbridge Inc's (ENB.TO) second quarter profit nearly doubled, surpassing analysts' expectations, helped by higher volumes of oil transported through its pipelines, Reuters reported.

April-June net income was $259 million or 34 cents per share, up from $138 million or 18 cents in the previous corresponding period. Adjusted profit rose to $260 million or 35 cents, from $232 million or 31 cents.

Analysts, on average, were expecting a profit of 33 cents a share, according to Thomson Reuters I/B/E/S.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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