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American Express Co. (AXP - Free Report) just released its fourth quarter fiscal 2016 financial results, posting earnings of 91 cents per share and revenues of $8.02 billion. AXP is a Zacks Rank #3 (Hold), and is down 0.65% to $76.19 per share in after-hours trading shortly after its earnings report was released.
Missed earnings estimates. The company posted earnings of 91 cents per share, lagging behind the Zacks Consensus Estimate of 98 cents per share. This number excludes three cents from non-recurring items.
Beat revenue estimate. The company saw revenue figures of $8.02 billion, topping our consensus estimate of 7.938 billion but declining 4.4% year-over-year.
Its U.S. Consumer Services segment reported fourth-quarter net income of $351 million, down 35% from $541 million a year ago.
Kenneth I. Chenault, chairman and chief executive officer said American Express now expects fiscal 2017 earnings per share between $5.60 and $5.80, a range is much more optimistic than the $5.61 per share that analysts had projected.
“Card Member spending (adjusted for Costco and the impact of foreign exchange rates) grew 7 percent in the fourth quarter. That increase reflects continued strength in our international markets, accelerated growth among small and mid-sized companies and strong long-term relationships with higher spending consumers,” said Chenault in a statement.
Here’s a graph that looks at American Express’ price, consensus, and EPS surprise:
American Express Co. Price, Consensus and EPS Surprise
American Express Company is primarily engaged in providing travel related services, financial advisory services, and international banking services throughout the world. American Express Travel Related Services Company, Inc. provides a variety of products and services, including global networking services, the American Express Card, the Optima Card, and other consumer and corporate lending products and stored value products.
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American Express (AXP) Lower on Q4 Earnings Miss
American Express Co. (AXP - Free Report) just released its fourth quarter fiscal 2016 financial results, posting earnings of 91 cents per share and revenues of $8.02 billion. AXP is a Zacks Rank #3 (Hold), and is down 0.65% to $76.19 per share in after-hours trading shortly after its earnings report was released.
Missed earnings estimates. The company posted earnings of 91 cents per share, lagging behind the Zacks Consensus Estimate of 98 cents per share. This number excludes three cents from non-recurring items.
Beat revenue estimate. The company saw revenue figures of $8.02 billion, topping our consensus estimate of 7.938 billion but declining 4.4% year-over-year.
Its U.S. Consumer Services segment reported fourth-quarter net income of $351 million, down 35% from $541 million a year ago.
Kenneth I. Chenault, chairman and chief executive officer said American Express now expects fiscal 2017 earnings per share between $5.60 and $5.80, a range is much more optimistic than the $5.61 per share that analysts had projected.
“Card Member spending (adjusted for Costco and the impact of foreign exchange rates) grew 7 percent in the fourth quarter. That increase reflects continued strength in our international markets, accelerated growth among small and mid-sized companies and strong long-term relationships with higher spending consumers,” said Chenault in a statement.
Here’s a graph that looks at American Express’ price, consensus, and EPS surprise:
American Express Co. Price, Consensus and EPS Surprise
American Express Co. Price, Consensus and EPS Surprise | American Express Co. Quote
American Express Company is primarily engaged in providing travel related services, financial advisory services, and international banking services throughout the world. American Express Travel Related Services Company, Inc. provides a variety of products and services, including global networking services, the American Express Card, the Optima Card, and other consumer and corporate lending products and stored value products.
Long-Term Buys You Won't See in the News
The stocks you see in today's headlines may not be in the news tomorrow or next week. If you're looking for profitable long-term investments, you may be interested to see what Zacks Research is recommending to our private members. These moves have double and triple-digit profit potential. Starting now, you can look inside our stocks under $10, home run and value stock portfolios, plus more. Want a peek at this exclusive information? Click here>>