For its fourth quarter, American Express Co. (AXP) reported increased earnings compared to the same period the previous year. However, these earnings fell short of Wall Street's expectations.
The company recorded earnings of $1.93 billion, translating to $2.62 per share. This is an increase from the $1.57 billion or $2.07 per share reported for last year's fourth quarter.
Figures compiled by Thomson Reuters reveal that analysts, on average, had predicted the company would earn $2.64 per share. It should be noted that analysts' estimates often exclude exceptional items.
American Express Co. reported an 11.4% rise in revenue for the quarter, reaching $15.80 billion, up from $14.18 billion in the same quarter of the previous year.
Here's a quick overview of American Express Co. earnings (using Generally Accepted Accounting Principles or GAAP):
- Earnings (Q4): $1.93 billion compared to $1.57 billion last year.
- Earnings Per Share (Q4): $2.62, up from $2.07 last year.
- Analysts' Estimate: $2.64.
- Revenue (Q4): $15.80 billion, marking a rise from $14.18 billion last year.
