American Express reports EPS of $1.2 in Q3
American Express Company released their earnings results for the third quarter of 2016 on Wednesday after market close. The company reported diluted earnings per share (EPS) of $1.20, down 3% from $1.24 in the same quarter last year. Third-quarter net income was $1.1 billion, down 10% year-on-year. The International Consumer and Network Services was the only segment which saw an increase of 1%, while the largest decrease was in the U.S. Consumer Services, the net income of the segment declined 26%.
The enterprise raised its full-year guidance, with its CEO Kenneth I. Chenault stating: "The year-to-date progress gives us greater confidence to substantially increase our investment spending during the remainder of the year and, at the same time, raise our 2016 earnings guidance."
Shares of American Express gained 4% in early after market trading, to go for $63.73 at 10:28 p.m. CET.