Business Digest | AEP quarterly earnings rise 25%

AEP quarterly earnings rise 25%

columbus

American Electric Power said its third-quarter earnings increased by 25 percent as hot summer weather helped to boost electricity sales. The company reported Tuesday it had net income of $555 million, or $1.16 a share, for the quarter that ended Sept. 30. That compares with $443 million, or 93 cents a share, in the same period a year ago. AEP’s revenue rose to $4.1 billion from $3.5 billion. Excluding changes in a cost estimate for an ongoing restructuring program, AEP earned $552 million in the quarter, or $1.15 per share. Analysts expected the company to earn $1.03 per share on revenue of $4.3 billion. Those estimates typically do not include special charges.

Financial lessons

youngstown

Employees from Home Savings & Loan will visit four local high schools Thursday in honor of National Get Smart About Credit Day. Students from 18 classes will receive tips on how to take charge of their personal finances, manage a credit card, read a credit report, protect personal financial information and recognize the signs of overspending. The event, co-sponsored by Junior Achievement of the Mahoning Valley, will take place at Trumbull Career and Technical Center, Canfield High School, Austintown Fitch High School and Boardman High School.

Starbucks adds to Internet offerings

NEW YORK

Starbucks is adding a venti-sized dollop of free books, news and entertainment to its Internet offerings starting today.

The coffee chain’s new digital network promises customers free e-books, movies and other exclusives, including free access to some paid websites such as The Wall Street Journal, and is meant to get customers spending more on drinks and content they buy through the site.

The move comes as Starbucks faces steep competition from McDonald’s Corp. and other fast-food chains pushing increasingly fancy coffee drinks.

Vindicator staff/wire reports