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1/17/2019, 10:07 PM (Source: TeleTrader)
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American Express posts 8% YoY rise in revenue at $10.5B in Q4

American financial services corporation The American Express Company announced on Thursday its revenue rose 8% year over year to $10.5 billion in the fourth quarter of 2018, just below analyst estimates. Meanwhile, earnings per share in the same period jumped to $2.31 per share compared to a loss per share of $1.42 last year in the same quarter.

"We continue to see very good returns on the investments we've been making to gain share and add scale," Chairman and Chief Executive Officer Stephen J. Squeri said in the press release. "Our growth throughout 2018 was broad-based and well-balanced across geographies and business lines," he added, underlining that "while there are mixed signals in the political and economic environment, based on what we see in the business we are starting 2019 from a position of strength."

Squeri said the company expects full-year 2019 revenue growth to be between 8% and 10%, with EPS in the range between $7.85 and $8.35.

Shares of American Express dipped 3.6% in after-hours trading after the company posted its financial update.

Breaking the News / JC