TransCanada posts better-than-expected profit (with text)TransCanada Corp, Canadas No. 2 pipeline operator, reported a better-than-expected quarterly profit, helped by strength in its U.S. and Mexican pipeline businesses. The company said earnings from its U.S. natural gas pipeline business rose more than fourfold to $416-million, due to its $13-billion acquisition of Columbia Pipeline Group in July. Earnings from its Mexico natural gas pipelines increased more than 155 per cent in the quarter, TransCanada added. The companys net loss attributable to shareholders narrowed to $358-million, or 43 cents per share, in the fourth quarter ended Dec. 31 from $2.46-billion, or $3.47 per share, a year earlier. The latest quarter included one-time items of about $1-billion, while the comparable year-earlier quarter had impairment charges of about $2.9-billion related to the Keystone XL oil pipeline. U.S. President Donald Trump last month cleared the way for TransCanadas proposed Keystone XL pipeline from the Alberta oil sands to U.S. refineries, after it was rejected in 2015 by then-President Barack Obama on environmental concerns. Excluding items, the company reported 75 cents per share, beating analysts estimate of 72 cents, according to Thomson Reuters I/B/E/S. Revenue rose 26.9 per cent to $3.62-billion in the quarter. Analysts were expecting revenue of $3.5-billion.