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.
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