7/20/2016, 10:27 PM (Source: TeleTrader)
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American Express announces $2.1 EPS

American Express reported that its net income rose in the past year from $1.5 billion in the second quarter last year to $2 billion in the same period this year. Earnings per share (EPS) increased 48% in the same timeframe and were at $2.1 in the period ending with June. In the previous quarter American Express reported EPS of $1.45.

The company said on Wednesday, shortly after Wall Street closed for business that its revenue was at $8.24 billion, a small decrease $8.3 billion in the same quarter last year.

The company announced late last month that it is looking to raise its quarterly dividend by to 32 cents per share starting with the third quarter of 2016. It also plans to buy back up to $3.3 billion of common shares by mid-2017.

American Express rose almost 2% in afterhours trading.

Breaking the News / VP