American Express (AXP) reported earnings on Wed 18 July 18 (a/h)

** charts before earnings **

 

** charts after earnings **

American Express beats by $0.03, reports revs in-line; reaffirms FY18 EPS, in-line 

• Reports Q2 (Jun) earnings of $1.84 per share, $0.03 better than the Capital IQ Consensus of $1.81; revenues rose 9.0% year/year to $10 bln vs the $10.05 bln Capital IQ Consensus.
  • Global Consumer Services Group reported second-quarter net income of $770 million, up 25 percent from $615 million a year ago. Total revenues net of interest expense were $5.3 billion, up 12 percent.
  • Global Commercial Services reported second-quarter net income of $564 million, up 18 percent from $477 million a year ago. Total revenues net of interest expense were $3.2 billion, up 8 percent.
  • Global Merchant and Network Services reported second-quarter net income of $543 million, up 14 percent from $476 million a year ago. Total revenues net of interest expense were $1.6 billion, up 1 percent from a year ago.
• Consolidated provisions for losses in Q2 were $806 million, up 38 percent from $583 million a year ago, and in-line with full-year expectations. Total Card Member spending up 10 percent and 2.9 million new cards acquired.
• Co reaffirms in-line guidancefor FY18, sees EPS at high end of $6.90-7.30 vs. $7.24 Capital IQ Consensus Estimate.  2018 revenues expected to be up at least 9 percent.