NEW YORK (AP) — NEW YORK (AP) — American Express Co. (AXP) on Friday reported third-quarter profit of $2.9 billion.
The New York-based company said it had net income of $4.14 per share.
The results beat Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of $3.96 per share.
The credit card issuer and global payments company posted revenue of $18.43 billion in the period, also surpassing Street forecasts. Eight analysts surveyed by Zacks expected $17.99 billion.
American Express expects full-year earnings in the range of $15.20 to $15.50 per share.
American Express shares have increased roughly 9% since the beginning of the year, while the S&P’s 500 index has climbed 13%. The stock has increased 15% 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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