American Express Shares Rise After Company Beats Expectations

By Claudia Assis Markets MarketWatch Pulse

Shares of American Express Co. rose 0.9% late Wednesday after the credit-card company reported second-quarter earnings and sales above Wall Street expectations. American Express said it earned $1.3 billion, or $1.47 a share, compared with $2 billion, or $2.10 a share, in the year-ago period. Revenue net of interest expense reached $8.3 billion, up 1% from $8.2 billion a year ago. Analysts polled by FactSet had expected per-share earnings of $1.43 on sales of $8.19 billion for the quarter. The stock ended the regular session up 0.5%.

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