7/19/2019, 1:31 PM (Source: TeleTrader)
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Amex posts EPS at $2.07 in Q2, up 13% YoY

The American Express Co. reported on Friday its earnings per share (EPS) for the second quarter of the fiscal year 2019 stood at $2.07, rising 13% compared to the same period last year. Revenue stood at $10.8 billion, up 8% annually, while net income rose 9% for the same time period to $1.76 billion.

Global Commercial Services and Global Merchant and Network Services reported an increase of 14% and 16% in the second quarter net income, while Global Consumer Services Group and Corporate and Other's profit fell. The increase in revenue was driven by increased card member spending, loans and card fees, Amex said.

"We continued the broad-based momentum throughout our business with the eighth straight quarter of FX-adjusted revenue growth at 8 percent or better. Once again, our performance was driven by a well-balanced mix of spending volumes, lending income and card fees," the company's chief executive Stephen Squeri said in the press release.

American Express shares increased 0.25% premarket as the financial results were out.

Breaking the News / MD