American Express Beats Bottom-Line Views
American Express (NYSE: AXP) trended slightly down in Tuesday's after-hours session after the company beat second-quarter earnings estimates and posted five percent revenue growth in line with Street views.
CEO Kenneth Chenault said card member spending rose nine percent from 2013, "and overall the growth rate accelerated from earlier this year, with higher volumes across each of our businesses in the U.S. and internationally."
Net income grew nine percent to $1.53 billion, or $1.43 per share, from $1.41 billion, or $1.27 per share, in the year-earlier period.
Net revenue increased five percent to $8.66 billion, from a year-earlier $8.25 billion.
Wall Street expected second-quarter earnings of $1.38 per share, on revenue of $8.66 billion.
U.S. Card Services net profits rose four percent to $770 million; International Card Services's income fell 63 percent to $77 million, while Global Commercial Services income more than doubled to $562 million.
American Express changed hands in the pre-market at $91.88, up 0.19 percent.
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