NEW YORK (AP) — NEW YORK (AP) — American Express Co. (AXP) on Friday reported second-quarter profit of $3.02 billion.
On a per-share basis, the New York-based company said it had net income of $4.15. Earnings, adjusted for non-recurring gains, came to $3.49 per share.
The results beat Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $3.22 per share.
The credit card issuer and global payments company posted revenue of $16.33 billion in the period, missing Street forecasts. Six analysts surveyed by Zacks expected $16.57 billion.
American Express expects full-year earnings in the range of $13.30 to $13.80 per share.
American Express shares have climbed 33% since the beginning of the year, while the S&P’s 500 index has climbed 16%. The stock has increased 40% 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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