NEW YORK (AP) — NEW YORK (AP) — American Express Co. (AXP) on Friday reported second-quarter profit of $2.89 billion.
On a per-share basis, the New York-based company said it had profit of $4.08.
The results surpassed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $3.86 per share.
The credit card issuer and global payments company posted revenue of $17.86 billion in the period, also exceeding Street forecasts. Thirteen analysts surveyed by Zacks expected $17.69 billion.
American Express expects full-year earnings to be $15 to $15.50 per share.
American Express shares have risen slightly more than 6% since the beginning of the year, while the S&P’s 500 index has risen 7%. The stock has climbed 26% 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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