American Express' Profit Falls, Revenue Increases

Date : 01/24/2020 @ 1:00PM
Source : Dow Jones News
Stock : American Express Company (AXP)
Quote : 109.93  -2.88 (-2.55%) @ 10:12PM
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Last $ 110.25 ▲ 0.32 (0.29%)

American Express' Profit Falls, Revenue Increases

American Express (NYSE:AXP)
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2 Months : From Dec 2019 to Feb 2020

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By Allison Prang 

American Express Co.'s fourth-quarter profit declined from a year ago but its revenue increased.

The credit-card company's profit was $1.69 billion for the quarter, down 16% from the comparable quarter a year ago. Earnings were $2.03 per share, 2 cents ahead of what analysts polled by FactSet were expecting.

A year earlier, American Express recorded an income-tax benefit, which helped earnings. For the fourth quarter of 2019, it reported income-tax expenses.

Total revenue net of interest expense were $11.37 billion, meeting analysts' consensus estimate. Revenue was up more than 8% from the comparable quarter a year ago.

Card member rewards costs increased year over year by over 8%.

The company expects earnings for 2020 to be between $8.85 and $9.25 a share and revenue, adjusted for foreign-exchange impact, to rise between 8% and 10%, Chief Executive and Chairman Stephen Squeri said in prepared remarks. Analysts are guiding for earnings to be within that range.

Write to Allison Prang at


(END) Dow Jones Newswires

January 24, 2020 07:45 ET (12:45 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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