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American Express Reports Mixed COVID-19 Shutdown Influenced Q2 Results

By John F. Heerdink, Jr.

Dow Jones payments giant American Express Company (AXP) announced Q2 earnings recently, reporting earnings of 29 cents/share versus the street’s expectation of 13 cents. Revenue declined 29% to $7.68 billion below analysts’ expectations of $7.9 billion. The company set aside $1.6 billion for credit loss provisions, less than expected. The credit card giant reported improvement in payments volume in May and June, no update on further activity was disclosed in the earnings release. American Express stocks declined after the release.

Dow 30 component American Express Company (AXP), and its subsidiaries provide customers and businesses globally with charge and credit payment card products and travel-related services. They look to enrich the lives of their customers and build business success. To learn more about American Express Company (AXP) and to continue to track its progress please visit the Vista Partners American Express Coverage Page.

Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives.

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(Read Original Story: American Express Earnings Top, Revenue Falls Short in Investor's Business Daily)


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