American Express posts US$1.7b income

Business | 19 Jul 2019 8:15 pm

American Express is reporting a profit increase of more than 8 percent from the second-quarter.

The company on Friday posted net income of US$1.76 billion, or US$2.07 per share. That’s a 2-US cent beat on Wall Street projections, according to a survey by Zacks Investment Research.

Revenue of US$10.84 billion also edged out expectations. in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected US$10.82 billion.

Shares edged slightly lower, however, before the opening bell after the company stuck to per-share annual guidance of between US$7.85 and US$8.35.-AP

 

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