NEW YORK (AP) 鈥� NEW YORK (AP) 鈥� American Express Co. (AXP) on Thursday reported first-quarter net income of $2.97 billion.
On a per-share basis, the New York-based company said it had net income of $4.28.
The results surpassed Wall Street expectations. The average estimate of eight analysts surveyed by Zacks Investment Research was for earnings of $4.03 per share.
The credit card issuer and global payments company posted revenue of $18.91 billion in the period, which also beat Street forecasts. Five analysts surveyed by Zacks expected $18.62 billion.
American Express expects full-year earnings to be $17.30 to $17.90 per share.
American Express shares have declined 10% since the beginning of the year, while the S&P’s 500 index has increased slightly more than 4%. The stock has risen 32% in the last 12 months.
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