1/24/2020, 1:14 PM (Source: TeleTrader)
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American Express EPS drops 13% in Q4

Financial services company American Express reported on Friday its earnings per common share (EPS) in the last quarter of fiscal 2019 stood at $2.03, reduced by 13% compared to the same period the year before, with net income dropping 16% to $1.7 billion, while the revenues increased 9%, reaching the number of $11.4 billion, in the same period.

The company booked revenues of $43.5 billion in the past year, which is 8% more year-on-year. Net income decreased by 2% to $6.7 billion from 2018's $6.9 billion, while the EPS for the full-year 2019 stood at $7.9, ensuring an increase of 1%.

The company's CEO Stephen J. Squeri said: "During 2019, we added 11.5 million new proprietary cards and continued to deliver solid billings growth. Almost 70 percent of our new Card Members are choosing our fee-based products, helping to drive card fee revenue growth of 17 percent. And, we delivered solid loan growth while maintaining industry-leading credit metrics."

Breaking the News / NL