Company News: American Express (AXP) Q3 financials beat analysts’ forecasts

Market news

20 October 2016

Company News: American Express (AXP) Q3 financials beat analysts’ forecasts

American Express reported Q3 FY 2016 earnings of $1.24 per share (versus $1.24 in Q3 FY 2015), beating analysts' consensus estimate of $0.96.

The company's quarterly revenues amounted to $7.774 bln (-5.1% y/y), slightly beating analysts' consensus estimate of $7.713 bln.

The company also raised its FY2016 EPS forecast to $5.90-6.00 from $5.40-5.70 versus analysts' consensus estimate of $5.60. It reaffirmed guidance for FY2017, projecting EPS of at least $5.60 versus analysts' consensus estimate of $5.55.

AXP rose to $65.05 (+6.20%) in pre-market trading.

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