NEW YORK (AP) — NEW YORK (AP) — American Express Co. (AXP) on Friday reported fourth-quarter net income of $1.93 billion.
The New York-based company said it had profit of $2.62 per share.
The results did not meet Wall Street expectations. The average estimate of 15 analysts surveyed by Zacks Investment Research was for earnings of $2.65 per share.
The credit card issuer and global payments company posted revenue of $15.8 billion in the period, which also missed Street forecasts. Fifteen analysts surveyed by Zacks expected $16.03 billion.
American Express expects full-year earnings to be $12.65 to $13.15 per share.
American Express shares have risen slightly since the beginning of the year, while the S&P’s 500 index has risen almost 3%. The stock has increased 20% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXP at https://www.zacks.com/ap/AXP
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