American Express 3Q earnings beat analysts’ estimates; stock up 2% pre-market
American Express Company (NYSE:AXP) reported third-quarter earnings Friday that beat analysts’ estimates.
The credit-card issuer’s stock rose nearly 2% to $121.38 a share in New York in pre-market trading following the upbeat news.
American Express said the higher-than-expected rise in its 3Q profit stemmed from more people using their credit cards to shop, pay bills and make big-ticket purchases.
Net income rose to $1.76 billion, or $2.08 per share, in the quarter ended September 30, from $1.65 billion, or $1.88 per share, a year earlier, the company said. Analysts had expected a profit of $2.03 per share.
Total revenue, excluding interest expense, rose 8% to $11 billion, helped by higher customer spending, net interest income and card fees. Analysts had expected $10.95 billion in revenue.
“The trends we saw in the business this quarter continue to be consistent with an economy that continues to grow, albeit at a more modest pace than last year,” Chief Executive Officer Steve Squeri said.
Contact the author: [email protected]
Follow him on Twitter @PatrickMGraham
Story by ProactiveInvestors
Source: https://www.proactiveinvestors.com/companies/news/905149/american-express-3q-earnings-beat-analysts-estimates-stock-up-2-pre-market-905149.html
Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.
"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.
Please Help Support BeforeitsNews by trying our Natural Health Products below!
Order by Phone at 888-809-8385 or online at https://mitocopper.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomic.com M - F 9am to 5pm EST
Order by Phone at 866-388-7003 or online at https://www.herbanomics.com M - F 9am to 5pm EST
Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!
HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation.
Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.
MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser! Cleans out toxic buildup with oxygen!
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover - Reduces Smart Meter radiation by 96%! (See Video).