American Express Reports Higher Profit; Revenue Misses Estimates

Scott Rubin, Benzinga Staff Writer

American Express (NYSE: AXP [FREE Stock Trend Analysis]) reported a higher profit for its fiscal first-quarter on Wednesday after the closing bell.

The company's earnings came in ahead of Wall Street estimates, but net sales were slightly below expectations. The stock was last trading down around 0.31 percent in the after hours trading session.

American Express reported net income for the period of $1.28 billion or $1.15 per share, compared to $1.26 billion or $1.07 per share, in last year's first-quarter. This came in ahead of Wall Street consensus EPS estimates of $1.12.

Revenue in the quarter was up 4 percent to $7.88 billion from $7.59 billion last year. This missed analysts' consensus revenue estimates of $8.05 billion for the quarter.

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Posted in: Earnings, News, Guidance, Intraday Update, After-Hours Center, Movers, Best of Benzinga

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