American Express (AXP) Prelim. Q4 Numbers Top Views; Will Cut Thousands of Jobs
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Go back to American Express (AXP) Prelim. Q4 Numbers Top Views; Will Cut Thousands of Jobs
January 10, 2013 4:07 PM EST
American Express (NYSE: AXP) announces a $400 million restructuring charge ($287 million after-tax) designed to contain future operating expenses, adapt parts of the business as more customers transact online or through mobile channels, and provide the resources for additional growth initiatives in the U.S. and internationally.
The restructuring charge mentioned above will consist largely of severance payments related to the elimination of an estimated 5,400 jobs. Those reductions will be partly offset by jobs... More
January 10, 2013 4:06 PM EST
American Express Co. (NYSE: AXP) reported Q4 EPS of $1.09, $0.03 better than the analyst estimate of $1.06. Revenue for the quarter came in at $8.1 billion versus the consensus estimate of $8.12 billion.
Credit indicators remained at historically low levels. The write-off rate for the U.S.... More
