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American Express earnings beat expectations on strong card fee revenues, shares rise

American Express earnings beat expectations on strong card fee revenues, shares rise

24.1.2020

American Express earnings beat expectations on strong card fee revenues, shares rise

American Express reported fourth-quarter results that beat analyst expectations as card fee revenues grew more than expected.

reported fourth-quarter results that beat analyst expectations, sending the stock higher as card fee revenues grew more than expected. The shares rose 2% in premarket trading Friday. Here's how the payments company's results compared to what Wall Street analysts expected: Earnings: $2.03 per share vs $2.01 per share forecast by Refinitiv Revenue: $11.365 billion vs $11.36 billion expected Net card fees: $1.08 billion vs StreetAccount estimate of $1.05 billion Discount revenue: $6.83 billion vs $6.88 billion forecast American Express said its stronger-than-forecast profit was driven in large part by a "well-balanced mix" in fee, spending and lending revenues. "These results demonstrate the success of our strategy to generate sustainable, profitable growth across the enterprise over the long term," CEO Stephen Squeri said in a statement. He also noted American Express added 11.5 million new proprietary cards in 2019, with nearly 70% of new card members opting for the company's fee-based products. This helped to drive "card fee revenue growth of 17 percent." American Express also reported revenue from discount offers totaled $6.83 billion, roughly in line with estimates. The company's adjusted annual profit came in at $8.30 per share, representing a 12% jump from the previous year. American Express expects 2020 profits to range between $8.85 per share and $9.25 per share. Analysts polled by Refinitiv expected earnings guidance ranging between $8.49 per share and $9.67 per share. The company also sees revenues growing between 8% and 10%. American Express shares have surged more than 31% over the past 12 months, beating the S&P 500 and Dow Jones Industrial Average in that time. That strong performance coincides with data showing consumer strength over the past year despite geopolitical tensions and worries about an economic slowdown. The latest data from the University of Michigan showed consumer sentiment remained near its highest level in years. The stock also got a boost this year after China's central bank accepted an application from an American Express unit to do business in the second-largest economy in the world. Read more: CNBC

Amex Platinum vs Amex Business Platinum: We compared the two premium credit cards, and the choice is obviousWhile the personal and business versions of the Amex Platinum Card used to have virtually identical benefits, that's no longer the case. I’ve been using it in ksa for more than a year and half, i hate it, the only reason why I’m still using it is because the currency is USD where all banks in KSA issues credit cards in SAR

Amex Platinum review: I got $2,000 in value in my first year — despite its $550 annual fee - Business InsiderI review the American Express Platinum card, which comes with a big annual fee but offers even more back thanks to its valuable perks.

American Airlines' profits jump despite Boeing 737 Max problems“We’re obviously disappointed to see the return to service date likely moving back,” American Airlines CEO Doug Parker says about the 737 Max. Despite the ongoing grounding, American posted higher profits in Q4.

American Airlines profit jumps despite Boeing 737 Max problems“We’re obviously disappointed to see the return to service date likely moving back,” American Airlines CEO Doug Parker says about the 737 Max. Despite the ongoing grounding, American posted higher profits in Q4. Only a fool would buy a tix on the 737 Max. Nobody is upset the return to service date got pushed back. Push it back even farther

Comcast shares rise after beat on earnings'I think there is a bifurcation in the market,' Comcast CEO Brian Roberts discusses the company's pivot to streaming and the launch of streaming service Peacock. He says the cable and broadband business powered Q4. lol CNBC just bring Madoff on as a guest you know you want to... Not local white trash msnbcLockup rackets BofA_Business access i,,own i,,finance i,,re:finance i,,USNavyCNO alwayschoice SocialStudiesDr popalock delusional theory registry mechanics office grids adt delusional theory Chaosxsilencer Ancestry passportIrl WDCreators

American Airlines posts slight earnings beat despite Max problems



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