NEW ORLEANS — Electric power company Entergy Corp. said Friday that its fourth-quarter net income nearly doubled with help from lower income-tax expenses.

The New Orleans utility earned $296.3 million, or $1.66 per share, in the three months ended Dec. 31, up from $154.1 million, or 87 cents per share, in the same quarter last year.

Excluding one-time items, the company said it posted an adjusted profit of $1.72 per share for the recent quarter.

Revenue fell 2 percent to $2.44 billion from $2.49 billion.

Analysts, on average, expected a profit of 95 cents per share on $3.15 billion in revenue, according to FactSet.

The company said profit at its utility business jumped 65 percent to $279.7 million, largely as a result of lower income-tax expenses stemming from a settlement with the Internal Revenue Service that was completed at the end of 2012.

Revenue at the business also rose as a result of pricing adjustments related to regulatory actions and investments, Entergy said.

For the full year, the company earned $846.7 million, or $4.76 per share, down from $1.35 billion, or $7.55 per share, in 2011. Revenue fell to $10.3 billion from $11.23 billion.

Entergy backed its previous 2013 earnings prediction of $4.60 to $5.40 per share. Analysts expect $4.92 per share.