American Express Shares Hardly Move After Q4 Sales Miss
American Express (NYSE: AXP) is up less than one percent in after hours trading after the company announced its fourth quarter results.
At one point it was down less than one percent.
The company reported a Q4 GAAP EPS of $1.21, adjusted figure was 1.25 versus the Street estimate of $1.25.
Earnings per share were up 11 percent from the year-ago period.
Revenue arrived at $8.5 billion, which was nearly inline with the Street estimate of $8.55 billion. Sales were up four percent year-over-year.
"Fourth quarter results reflected a healthy increase in billed business in the U.S. and internationally," Kenneth I. Chenault, chairman and CEO of American Express, said in a company release. "We ended the year on a strong note, with Card Member spending up 8 percent despite mixed reports during the holiday shopping season.
"Credit quality indicators are at historically strong levels and, while many consumers are still cautious about taking on additional debt, we again saw a modest increase in Card Member loans this quarter."
Year-to-date, American Express has not gained much love from investors, falling more than one percent. The stock rose more than 45 percent over the last year, however, as investor interest skyrocketed for this credit services provider.
Disclosure: At the time of this writing, Louis Bedigian had no position in the equities mentioned in this report.
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