American Express Company (AXP) announced its most recent quarterly financial results on Wednesday, Oct-19-2016. AXP said it had a profit of $1.24 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.28. Analysts had a consensus of $0.96. The company posted revenue of $7774.00 million in the period, compared to analysts expectations of $7712.69 million. AXP’s revenue was down -5.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.24 EPS.
Many Wall Street Analysts have commented on American Express Company. American Express Company was Initiated by Atlantic Equities to “Underweight” on Sep 9, 2016.
American Express Company closed down -0.26 points or -0.43% at $60.15 with 49,63,849 shares getting traded on Friday. Post opening the session at $61.01, the shares hit an intraday low of $60.1 and an intraday high of $61.2 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
In a different news, on May 27, 2016, Susan Sobbott (Pres., Glbl Commercial Pymnts) sold 14,682 shares at $65.50 per share price. According to the SEC, on May 25, 2016, Michael John O’neill (EVP, Corp Affairs & Comm) sold 51,690 shares at $64.95 per share price. On May 20, 2016, Kenneth I Chenault (Chairman & CEO) sold 838,968 shares at $62.65 per share price, according to the Form-4 filing with the securities and exchange commission.
American Express Company is a global services company. The Companys principal products and services are charge and credit payment card products and travel-related services offered to consumers and businesses around the world. The Companys segments include U.S. Card Services International Card Services Global Commercial Services and Global Network & Merchant Services. The Companys United States banking subsidiaries Centurion Bank and AEBFSB issue a range of Card products and services. It also issues its charge and credit Cards around the world either on its own or as cobrands with partnering institutions. The Company provides expense management and travel services to companies and organizations through its Global Corporate Payments and Global Business Travel businesses. The Global Network & Merchant Services (GNMS) segment operates a global payments network that processes and settles card transactions.