American Electric Power Co Inc Q1 Profit Increases, beats estimates

(RTTNews) - American Electric Power Co Inc (AEP) released a profit for its first quarter that increased from last year and beat the Street estimates.

The company's bottom line came in at $1.00 billion, or $1.91 per share. This compares with $397.0 million, or $0.77 per share, in last year's first quarter.

Excluding items, American Electric Power Co Inc reported adjusted earnings of $670.4 million or $1.27 per share for the period.

Analysts on average had expected the company to earn $1.26 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 6.4% to $5.0 billion from $4.7 billion last year.

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

-Earnings (Q1): $1.00 Bln. vs. $397.0 Mln. last year. -EPS (Q1): $1.91 vs. $0.77 last year. -Revenue (Q1): $5.0 Bln vs. $4.7 Bln last year.

-Guidance: Full year EPS guidance: $5.53 to $5.73