American Express Beats Q4 EPS, Revenue Expectations

American Express Company AXP reported fourth-quarter net income Wednesday of $1.4 billion, up 11 percent from $1.3 billion a year ago.

Total revenues came in at $9.107 billion, above estimates of $8.53 billion and the $8.55 billion reported in the prior year period.

Diluted earnings per share came in at $1.39, above estimates of $1.38, and the $1.21 reported a year ago.

According to the company’s press release, the revenue increase primarily reflected the previously reported gain of $719 million ($453 million after-tax) on the sale of the company’s investment in Concur Technologies.

Additionally, the increase also reflected a rise in Card Member spending and higher net interest income.

“Solid results this quarter reflected the underlying themes that have characterized our performance throughout 2014: higher Card Member spending, increased loan balances, tight control of operating expenses and a substantial return of capital to shareholders through share repurchases,” said Kenneth I. Chenault, chairman and chief executive officer.

Shares of American Express Company fell in after-hours trading amid a Bloomberg report that the company will cut thousands of jobs in 2015 and take a $313 million charge in Q4.

American Express traded recently at $86.00, down 1.90 percent.