American Express (AXP): Nothing Going On
American Express (AXP) was expected to report earnings of 86 cents a share on sales of $7.49 million for the second quarter The company reported second quarter EPS of $.88 vs $.76 last year. Revenue net of interest expense was…
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American Express (AXP) was expected to report earnings of 86 cents a share on sales of $7.49 million for the second quarter
The company reported second quarter EPS of $.88 vs $.76 last year.
Revenue net of interest expense was $7.13 billion vs $6.54 billion in the quarter last year.
Net income for the quarter also totaled $1.1 billion, up 12 percent from $945 million a year ago.
The company said: "Spending on American Express cards rose 15 percent and we added more than 2 million cards during the last three months.
Wall St. was not much impressed. The stock dropped about .5% after hours.
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.
