American Express misses 4Q profit forecasts

MarketsAssociated Press

American Express Co. (AXP) on Thursday reported fourth-quarter earnings of $825 million.

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On a per-share basis, the New York-based company said it had profit of 88 cents. Earnings, adjusted for non-recurring costs, were 91 cents per share.

The results missed Wall Street expectations. The average estimate of 11 analysts surveyed by Zacks Investment Research was for earnings of 98 cents per share.

The credit card issuer and global payments company posted revenue of $8.02 billion in the period, exceeding Street forecasts. Seven analysts surveyed by Zacks expected $7.94 billion.

American Express expects full-year earnings in the range of $5.60 to $5.80 per share.

American Express shares have climbed 3.5 percent since the beginning of the year, while the Standard & Poor's 500 index has climbed 1 percent. In the final minutes of trading on Thursday, shares hit $76.69, a rise of 22 percent in the last 12 months.

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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXP at https://www.zacks.com/ap/AXP

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