American Express Trades Lower on Q3 Earnings Results

Shares of American Express

are trading lower in the after-hours following the release of the company's Q3 earnings results. Currently, shares are lower by 0.61%, trading at $45.85; they ended the regular session lower by 1.18%, at $46.13. American Express reported Q3 EPS of $1.03 on revenues of $7.57 billion; the Street was looking for $0.94 per share on revenues of $7.58 billion. Revenues increased 8.6% year over year. Provisions for losses totaled $143 million, down 48 percent from $274 million a year ago. The decline “reflects continued improvement in credit quality.” "We delivered strong bottom line results across all of our business segments this quarter," said Kenneth I. Chenault, chairman and chief executive officer. "Revenue growth reflected a continuing return on the investments we're making to enhance the services we provide consumers, small businesses, merchants and corporate customers.” American Express Company is a global service company. The company's principal products and services are charge and credit payment card products and travel-related services offered to consumers and businesses around the world.