American Express beats by $0.15, beats on revs; guides FY18 EPS above consensus
- Reports Q1 (Mar) earnings of $1.86 per share, $0.15 better than the Capital IQ Consensus of $1.71; revenues rose 11.6% year/year to $9.72 bln vs the $9.49 bln Capital IQ Consensus.
- Consolidated provisions for losses were $775 million, up 35 percent from $573 million a year ago. The increase, which was in line with the company's expectations, reflected growth in the loan portfolio and an increase in the lending write-off and delinquency rates.
- The consolidated effective tax rate was 22 percent, down from 32 percent a year ago.
- Co issues upside guidance for FY18, sees EPS at high end of $6.90 to $7.30 vs. $7.10 Capital IQ Consensus Estimate.
- "Our year is off to a good start with double-digit growth in billed business, revenues and earnings," said Stephen J. Squeri, chairman and chief executive officer. Given what we are seeing so far, we expect revenues to be up at least 8 percent this year."
No comments:
Post a Comment