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MarketScreener Homepage  >  Equities  >  Nyse  >  American Express Company    AXP

AMERICAN EXPRESS COMPANY

(AXP)
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American Express : Expects Net Interest Income to be Sequentially Flat in 4Q

10/23/2020 | 03:44pm EST

By Allison Prang

American Express Co. isn't expecting operating expenses to fall as much as the company predicted back in the spring.

CFO Jeffrey Campbell said on the company's earnings call that it expects its declines in operating expenses from the second to fourth quarters compared to a year earlier "to be somewhat less than the $1 billion we initially discussed back in April, which in hindsight was at the moment of peak uncertainty about the future."

The finance chief added that he expects fourth-quarter marketing costs to be similar to the third quarter.

Mr. Campbell also said he expects card fee growth rates to keep decelerating but expects net card fees to increase in the double digits this quarter.

Net interest income is also expected to be flat.

"Looking forward into the fourth quarter and assuming we continue to see higher pay-down rates from revolving card members I'd expect net interest income to be relatively flat sequentially," he said.

Write to Allison Prang at allison.prang@wsj.com

(END) Dow Jones Newswires

10-23-20 1543ET

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Financials (USD)
Sales 2020 36 173 M - -
Net income 2020 2 667 M - -
Net Debt 2020 - - -
P/E ratio 2020 36,1x
Yield 2020 1,43%
Capitalization 97 091 M 97 091 M -
Capi. / Sales 2020 2,68x
Capi. / Sales 2021 2,42x
Nbr of Employees 64 000
Free-Float 99,9%
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Technical analysis trends AMERICAN EXPRESS COMPANY
Short TermMid-TermLong Term
TrendsBullishBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 110,77 $
Last Close Price 120,58 $
Spread / Highest target 15,3%
Spread / Average Target -8,14%
Spread / Lowest Target -27,0%
EPS Revisions
Managers
NameTitle
Stephen J. Squeri Chairman & Chief Executive Officer
Jeffrey C. Campbell Chief Financial Officer & Executive VP-Finance
Marc D. Gordon Chief Information Officer & Executive VP
Charlene Barshefsky Independent Director
Peter F. Chernin Independent Director
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