Jeff Campbell, the CEO as well as the EVP of American Express (NYSE:AXP) said while talking at last year’s conference call that the company is expecting that the company’s earnings per share for the second quarter would be much lower than that of last year’s EPS. “Disciplined expense control and a substantial return of capital to shareholders through share repurchases together with higher Card Member spending and loan volumes helped to mitigate the negative impact of a strong U.S. dollar and the year-ago benefits from Global Business Travel, which now operates as a joint venture”. Five research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eleven have given a buy rating to the stock.
American Express Company (NYSE:AXP): On Wednesday heightened volatility was witnessed in American Express Company (NYSE:AXP) which led to swings in the share price. However, the stock price could fluctuate by $ 10.17 from the estimate as it is suggested by the standard deviation reading. (AXP) on Wednesday reported second-quarter profit of $1.44 billion.
The shares of the company slipped 1.4% to 77.90 dollars in the late after-hours trading, while the company’s revenue had missed expectations. American Express and its principal operating subsidiary, American Express Travel Related Services Company, Inc.
Investors are watching shares of American Express Company (NYSE:AXP) today as the stock opened the current trading session at 78.80 and at the time of writing the last Bid was at 78.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Total spending on AmEx’s network rose 2 percent, or 6 percent adjusted for currency fluctuations, to $262 billion.
The company also ended a deal with JetBlue Airways (JBLU.O).
Analysts polled by Thomson Reuters expected per-share profit of $1.32 and revenue of $8.46 billion. However yesterday the company lost further 0.16% shares by 7:55 pm and reached the total amount of $78.82. The ex-dividend date is Tuesday, June 30th.
American Express Company (American Express) is a global service company.
The company’s U.S. card-service business reported that its earnings grew 15% to $886 million.
AmEx gets about a sixth of its card services revenue from outside the United States. Steve Squeri was named vice chairman, overseeing small business initiatives and the firm’s enterprise-growth unit as well as corporate payments and global services.
Global Network & Merchant Services had quarterly net income up 20% to $448 million.