American Express Company (AXP - Free Report) just released its third-quarter 2017 financial results, posting earnings of $1.50 per share and revenues of $8.44 billion. Currently, AXP is a Zacks Rank #3 (Hold) and is up marginally to $92.20 per share in after-hours trading shortly after its earnings report was released.
Beat earnings estimates. The company posted earnings of $1.50 per share, beating the Zacks Consensus Estimate of $1.47 per share.
Beat revenue estimates. The company saw revenue figures of $8.44 billion, topping our consensus estimate of $8.32 billion.
The credit card giant’s revenues climbed 9%, while its earnings jumped 25% from $1.20 per share in the year-ago period. American Express reported third-quarter net income of $1.4 billion, which marks a 19% gain.
American Express now projects it will post full-year EPS between $5.80 and $5.90, which is up from its previous estimate of between $5.60 and $5.80 per share.
“We are completing a two-year turnaround ahead of plan with strong revenue and earnings growth across all of our business segments,” CEO Kenneth I. Chenault said in a statement.
“We’ve added products and benefits, shown continued strength in acquiring new customers, and expanded our merchant network… Loan growth continued to be strong and credit metrics were again in line with our expectations. We’ve contained operating costs and reallocated a significant part of those savings to fund many of the initiatives that are now driving growth across the business.”
Here’s a graph that looks at AXP’s Price, Consensus and EPS Surprise history:
American Express Company is primarily engaged in the business of 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 network services, the American Express Card, the Optima Card and other consumer and corporate lending products, stored value products, and several others.
Check back later for our full analysis on AXP’s earnings report!
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