American Express (AXP) PT, Estimates Cut at Credit Suisse Following 'Miss'

American Express Reports Third Quarter EPS of $1.24, Versus $1.40 a Year Ago

October 21, 2015 4:03 PM EDT

Results Reflect Higher Spending on Growth Initiatives as Well as the Impact of Previous Co-Brand Renewals and Stronger U.S. Dollar

NEW YORK--(BUSINESS WIRE)-- American Express Company (NYSE: AXP) today reported third-quarter net income of $1.3 billion, down 14 percent from $1.5 billion a year ago. Diluted earnings per share was $1.24, down 11 percent from $1.40 a year ago.

 

 

(Millions, except percentages and per share amounts)

    Quarters Ended

September 30,

  Percentage

Inc/(Dec)

  Nine Months Ended

September 30,

  Percentage

Inc/(Dec)

         

2015

     

2014

         

2015

     

2014

      Total Revenues Net of Interest Expense       $ 8,193     $ 8,303     (1%)   $ 24,427     $... More