Shareholders Reports on American Express and AmeriCredit -- An Improving Trend Throughout the Credit Services Industry
20 Agosto 2010 - 2:24PM
Marketwired
www.RothmanResearch.com undertakes intensive analysis of the credit
services industry and provides systematic research on
American Express Company (NYSE: AXP) and
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As the economy starts to recover and people put on confidence,
the credit service sector has been gaining traction. Recent
quarterly earnings reports show some positive growth which is
providing hope that the sector may be pulling out of the tail spin
that it has been in during the recession.
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information on the credit services industry; investors and
shareholders of American Express Company and AmeriCredit Corp. are
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The beginning of the year did not look promising with charge
offs at 10 percent compared to 3.8 percent pre recession. However,
the second quarter saw charge offs and delinquencies dropping as
borrowers seem to be successfully repaying debt and becoming more
financially cautious. With customers borrowing less and paying down
more, interest revenues are dropping. Because of this, some lenders
are increasing focus on charge and pay-in-full services, which
provide fee based revenue.
Despite continued high unemployment and financial woes,
Americans seem to be in agreement that something worth spending on,
and borrowing for, is education. Earning a degree can double the
chances of employment, which in the current environment is a huge
incentive. Despite rising costs of education, families are digging
deep to pay for college.
On the earnings observation board, companies to have impressed
Wall Street in this quarter have been American Express Company and
AmeriCredit Corp. amongst a select few. American Express or AmEx as
it is fondling called saw its earnings triple to $1.02 billion on
revenue of $6.9 billion. Auto finance and subprime lender
AmeriCredit Corp. saw its earnings double to $85.5 million this
quarter. www.rothmanresearch.com provides technical analysis and
free downloadable research reports on American
Express Company and AmeriCredit Corp. by
signing up now at
http://www.rothmanresearch.com/article/axp/23869/Aug-20-2010.html or
http://www.rothmanresearch.com/article/acf/23870/Aug-20-2010.html
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