** charts after earnings **
American Express beats by $0.10, reports revs in-line; guides FY16 EPS above consensus:
- Reports Q4 (Dec) earnings of $1.23 per share, excluding non-recurring items,$0.10 better than the Capital IQ Consensus of $1.13; revenues fell 7.6% year/year to $8.39 bln vs the $8.4 bln Capital IQ Consensus. EPS excludes a $419 million charge ($335 million after-tax) that included an impairment of goodwill and technology assets, in addition to restructuring costs within the Enterprise Growth (:EG) Group.
- RoE was 25.6% compared to 29.1% in prior year.
- "A number of cyclical factors in the broader economy have also weighed on our performance and influenced our outlook. Against that backdrop, and the fact that revenue growth has not accelerated as we anticipated, we are moving aggressively to streamline the company and drive efficiencies in order to take out $1 billion from our overall cost base by the end of 2017".
- Co issues upside guidance for FY16, sees EPS of $5.40-5.70, excluding non-recurring items, vs. $5.40 Capital IQ Consensus Estimate.
- Sees 2017 EPS of 'at least $5.60'
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