Founded in 1850, New York City-based American Express Co (AXP) is an American financial services company best known for its prestigious credit card business. The company is also one of the 30 components of the Dow Jones Industrial Average.
Currently, American Express has a Zacks Rank #3 (Hold) but that could change following its fiscal third quarter 2015 earnings report. We have highlighted some of the key details from the just-released announcement below.
Earnings: American Express missed earnings expectations. Adjusted EPS came in at $1.24 per share, beating the Zacks Consensus Estimate of $1.31 per share. Net income dropped 14% to $1.27 billion from $1.48 billion from 2014's Q3 posted earnings.
Revenue: Revenues of $8.19 billion missed the Zacks Consensus Estimate of $8.38 billion, falling 1.3%.
Key Stats: During this year, shares of American Express have fallen 18% is the company and CEO Ken Chenault are working to overcome the loss its biggest partner, Costco. The company now expects full year 2015 EPS to be between $5.20 and $5.35.
Stock Price: AXP down up $2.36, or 3.09%, to $74.15 as of 4:48 PM ET in after hours trading shortly after its earnings report was released.
