(Updated - January 21, 2015 4:05 PM EST)

American Express (NYSE: AXP) reported Q4 EPS of $1.39, which may not compare with the analyst estimate of $1.38. Revs were $9.11 billion, versus the consensus of $8.53 billion.

Consolidated provisions for losses totaled $582 million, up 22 percent from $479 million a year ago. The increase primarily reflected a build in reserves this quarter compared to a reserve release last year. Credit indicators continued to be at historically strong levels.

Consolidated expenses totaled $6.3 billion, up 3 percent (6 percent FX adjusted2) from $6.1 billion a year ago. As indicated last quarter, the company used a substantial portion of the Concur gain for:

• Companywide initiatives to improve operating efficiencies, which entailed a restructuring charge of $313 million ($206 million after-tax);
• Incremental investments in growth initiatives, which were largely reflected in higher marketing and promotion expenses; and
• The renewal of the company’s partnership with Delta Air Lines, which created additional rewards costs of $109 million ($68 million after-tax).

In addition, fourth-quarter results were negatively affected by the impact of foreign currency translations on international operations.

The effective tax rate for the quarter was 35 percent, up from 34 percent from a year ago, driven by the geographic mix of earnings and the resolution of certain prior years’ items.

The company's return on average equity (ROE) was 29.1 percent, up from 27.8 percent a year ago.

For earnings history and earnings-related data on American Express (AXP) click here.