American Express Logs Big Bump in 2Q Earnings, Revenue Climbs
23 Luglio 2021 - 1:16PM
Dow Jones News
By Allison Prang
American Express Co. reported higher second-quarter revenue and
increased earnings as spending on travel and entertainment kept
improving, and the company logged credit-reserve releases.
Net income at American Express grew to $2.28 billion from $257
million a year earlier. Earnings were $2.80 a share, up from 29
cents a share. According to FactSet, analysts had been expecting
$1.63 a share.
Revenue at the company, net of interest expense, rose 33% to
$10.24 billion. Analysts had been expecting $9.57 billion.
The company had negative credit-loss provisions of $606 million,
compared with a year earlier when its provisions were $1.56
billion.
"We saw card-member spending accelerate from the prior quarter
and exceed pre-pandemic levels in June, with the largest portion of
this spending growth coming from millennial, Gen Z and
small-business customers," Chief Executive and Chairman Stephen
Squeri said in prepared remarks. He said "travel and entertainment
spending continued to improve."
"Based on current trends, we are confident in our ability to be
within the high end of the range of EPS expectations we had for
2020 in 2022," Mr. Squeri added.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
July 23, 2021 07:15 ET (11:15 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
Grafico Azioni American Express (NYSE:AXP)
Storico
Da Mar 2024 a Apr 2024
Grafico Azioni American Express (NYSE:AXP)
Storico
Da Apr 2023 a Apr 2024