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.
Credit card giant, American Express reported Q4 earnings recently, reporting figures far ahead of analysts’ expectations for earnings per share.
The company reported an EPS of $2.03 a share from a revenue of $11.4 billion during the quarter, beating FactSet, Wall Street estimates of EPS of $2.01 and $11.4 billion in revenue. Card-fee revenue grew 17% in 2019 and 20% year over year in the fourth quarter.
The results strengthened the fact that consumers are willing to pay for Amex cards and reportedly 70% of the new American Express cardholders choose cards with a fee with benefits. The company seems to be pulling and expanding the consumer credit-card business to generate more interest revenue which is not necessarily dependent on consumers struggling over unpaid balances.
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