American Electric Power Co Inc Q2 Profit Decreases, but beats estimates

(RTTNews) - American Electric Power Co Inc (AEP) reported a profit for second quarter that decreased from the same period last year but beat the Street estimates.

The company's bottom line came in at $524.5 million, or $1.02 per share. This compares with $578.2 million, or $1.16 per share, in last year's second quarter.

Excluding items, American Electric Power Co Inc reported adjusted earnings of $617.7 million or $1.20 per share for the period.

Analysts on average had expected the company to earn $1.19 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 21.1% to $4.6 billion from $3.8 billion last year.

American Electric Power Co Inc earnings at a glance (GAAP) :

-Earnings (Q2): $524.5 Mln. vs. $578.2 Mln. last year. -EPS (Q2): $1.02 vs. $1.16 last year. -Analyst Estimates: $1.19 -Revenue (Q2): $4.6 Bln vs. $3.8 Bln last year.

-Guidance: Full year EPS guidance: $4.87 to $5.07