Economics
American Electric Power Profit Rises for Second Quarter
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American Electric Power Co., which delivers electricity to more than 5 million customers in 11 states, said second-quarter profit rose 2.8 percent and next quarter’s results would be lower after a storm knocked out power to its Ohio customers.
Net income rose to $362 million, or 75 cents a share, from $352 million, or 73 cents, a year earlier, Columbus, Ohio-based American Electric said in a statement today. Excluding severance costs, per-share profit was 5 cents more than the average of 12 analysts’ estimates compiled by Bloomberg.