American Express (AXP) Tops Q3 EPS by 6c, FY EPS Guidance Misses Consensus
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American Express Sinks Despite Strong Q3 as Provision Build Worries Some
October 21, 2022 11:56 AM EDTShares of American Express (NYSE: AXP) fell more than 6% Friday despite strong third-quarter results and outlook as investors were spooked by a reserve build and higher expenses in the quarter. Some analysts also pointed to slowing network volumes.
The credit card provider posted net income of $1.9 billion, or $2.47 per share, compared with net income of $1.8 billion, or $2.27 per share, a year ago and the consensus of $2.41.
On the top line, American Express revenue grew 24% in the quarter to $13.6 billion, versus... More
