Better-than-expected residential sales and $170 million worth of cost cutting mitigated Duke Energy Corp.’s second-quarter losses as the company was hit hard by the significant drop in commercial and industrial sales from the Covid-19 crisis.
Still the company reported a net loss of $817 million, or $1.13 per share, on sales totaling $5.4 billion. That compares with a profit of $820 million, or $1.12 per share, for the same quarter last year, when sales totaled almost $5.9 million.
In the quarter,…