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MarketScreener Homepage  >  Equities  >  Nyse  >  American Express Company    AXP

AMERICAN EXPRESS COMPANY

(AXP)
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American Express : Net Income Falls in 3Q

10/23/2020 | 07:16am EST

By Allison Prang

American Express Co.'s third-quarter profit missed earnings estimates, but its revenue net of interest expense came in higher than Wall Street anticipated.

Earnings for the quarter decreased to $1.1 billion, or $1.30 a share, the company reported Friday. Those were lower than the comparable quarter a year earlier when profit was $1.8 billion, or $2.08 a share. According to FactSet, analysts had been expecting $1.34 a share.

The credit-card company said revenue net of interest expense was $8.8 billion. Analysts had been expecting $8.66 billion. Revenue net of interest expense fell 20% from a year earlier, American Express said, attributing the drop to less card-member spending and a decline in the average discount rate.

American Express's provision for credit losses was $665 million, the company said. That declined from a year earlier when it was $879 million.

"Since the lows of mid-April, we have seen a steady recovery in our overall spending volumes," Chief Executive Stephen Squeri said in prepared remarks, adding that credit is still strong but that the company is still "cautious about the direction of the pandemic and its impacts on the economy."

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

(END) Dow Jones Newswires

10-23-20 0715ET

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Financials (USD)
Sales 2020 36 173 M - -
Net income 2020 2 667 M - -
Net Debt 2020 - - -
P/E ratio 2020 34,7x
Yield 2020 1,48%
Capitalization 93 476 M 93 476 M -
Capi. / Sales 2020 2,58x
Capi. / Sales 2021 2,33x
Nbr of Employees 64 000
Free-Float 99,9%
Chart AMERICAN EXPRESS COMPANY
Duration : Period :
American Express Company Technical Analysis Chart | AXP | US0258161092 | MarketScreener
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 116,09 $
Spread / Highest target 19,7%
Spread / Average Target -4,58%
Spread / Lowest Target -24,2%
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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