NEW YORK (AP) — NEW YORK (AP) — American Express Co. (AXP) on Thursday reported first-quarter earnings of $2.58 billion.
The New York-based company said it had profit of $3.64 per share.
The results surpassed Wall Street expectations. The average estimate of 13 analysts surveyed by Zacks Investment Research was for earnings of $3.45 per share.
The credit card issuer and global payments company posted revenue of $16.97 billion in the period, which missed Street forecasts. Twelve analysts surveyed by Zacks expected $17 billion.
American Express expects full-year earnings in the range of $15 to $15.50 per share.
American Express shares have fallen 15% since the beginning of the year, while the S&P’s 500 index has fallen 10%. The stock has increased 16% 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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