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Dow 30’s AXP Beats Q3 Wall Street Estimates

By John F. Heerdink, Jr.

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.

American Express reported its Q3 profit on Friday, performing beyond expectations as more people used cards to transact in the period. The company which has been investing in its reward programs on its cards and partnering with a number of firms has been facing a tough fight with JPMorgan Chase’s Sapphire Reserve and Citigroup’s Prestige Card.

The Credit card giant reported net income of $1.76B billion, or $2.08/share for the quarter exceeding last year’s earnings at $1.65 billion, or $1.88 per share. Higher customer spending, net interest income, and card fees triggered revenue of $11 billion, an increase of 8% excluding interest expense.

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: AmEx profit beats Wall Street estimates on higher consumer spending in CNBC)


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