Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

MarketScreener Homepage  >  Equities  >  Nyse  >  American Express Company    AXP

AMERICAN EXPRESS COMPANY

(AXP)
  Report  
SummaryQuotesChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
News SummaryMost relevantAll newsOfficial PublicationsSector newsAnalyst Recommendations

American Express : 2Q profits rise 9%, beating expectations

share with twitter share with LinkedIn share with facebook
share via e-mail
0
07/19/2019 | 08:45am EDT

NEW YORKAmerican Express posted a 9% gain in second-quarter profits on Friday, helped by more of its cardmembers carrying a credit card balance and increased spending on its namesake cards.

The New York company said it earned a profit of $1.76 billion, or $2.07 a share. That's up from earnings of $1.62 billion, or $1.84 a share, in the same period a year earlier. Analysts were looking for AmEx to earn $2.03 a share, according to FactSet.

The improving economy has convinced more U.S. consumers to spend, and take on increasing amounts of credit card debt, which benefits AmEx's bottom line. Its cardmembers spent $311.7 billion on its cards worldwide in the quarter, up from $296.5 billion a year earlier.

Meanwhile individual U.S. cardmember spending rose to $5,445 in the quarter, up from $5,275 in 2018.

American Express makes most of its money off of fees it charges merchants to accept their cards. The more money spent by consumers at these merchants, the more AmEx earns in processing fees.

AmEx has also been encouraging its customers to carry a balance, even on its traditional cards that typically had to be paid off at the end of each month. The company had $72.6 billion in loans to customers at the end of the second quarter, up from $66.3 billion a year earlier.

Other financial companies have been reporting similar gains in their consumer banking businesses. JPMorgan Chase and Citigroup, two of American Express' biggest competitors, both reported higher credit card revenue and interest revenue.

Total revenue for the company, net of interest expense, was $10.84 billion, up from $10.00 billion a year earlier.

© 2019 The Canadian Press. All rights reserved., source Canadian Press DataFile

share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on AMERICAN EXPRESS COMPANY
07:40aAMERICAN EXPRESS : Why streaming services are the new credit card rewards binge
AQ
08/20AMERICAN EXPRESS : Returns to the 2019 US Open Tennis Championships to Back Card..
BU
08/15AMERICAN EXPRESS CO : Regulation FD Disclosure (form 8-K)
AQ
08/14Buffett's Berkshire boosts Amazon.com bet, attracts Ackman
RE
08/14AMERICAN EXPRESS : Q2 2019 Pillar 3 Disclosure
PU
08/06AMERICAN EXPRESS : Vladimir Guerrero Jr. is the Newest Face of American Express ..
PU
08/06AMERICAN EXPRESS : and Newly-acquired Resy Unveil New Culinary Collaborations Ki..
BU
08/02AMERICAN EXPRESS : and Singapore Airlines Extend Partnership to Support SME Grow..
AQ
08/01AMERICAN EXPRESS : buys supplier payment automation platform Acompay
AQ
08/01AMERICAN EXPRESS : Expands Suite of Global Business Payment Capabilities Through..
AQ
More news
Financials (USD)
Sales 2019 43 589 M
EBIT 2019 12 392 M
Net income 2019 6 621 M
Debt 2019 -
Yield 2019 1,33%
P/E ratio 2019 15,4x
P/E ratio 2020 13,6x
Capi. / Sales2019 2,33x
Capi. / Sales2020 2,16x
Capitalization 102 B
Chart AMERICAN EXPRESS COMPANY
Duration : Period :
American Express Company Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends AMERICAN EXPRESS COMPANY
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 30
Average target price 132,24  $
Last Close Price 122,50  $
Spread / Highest target 20,8%
Spread / Average Target 7,95%
Spread / Lowest Target -11,8%
EPS Revisions
Managers
NameTitle
Stephen J. Squeri Chairman & Chief Executive Officer
Jeffrey C. Campbell Chief Financial Officer & Executive Vice President
Marc D. Gordon Chief Information Officer & Executive VP
Charlene Barshefsky Independent Director
Peter F. Chernin Independent Director
Sector and Competitors
1st jan.Capitalization (M$)
AMERICAN EXPRESS COMPANY28.51%101 635
CAPITAL ONE FINANCIAL CORPORATION13.80%40 458
BAJAJ FINANCE24.53%26 329
DISCOVER FINANCIAL SERVICES35.25%25 386
SYNCHRONY FINANCIAL40.84%21 920
ORIX CORPORATION-3.94%18 175