American Express Q3 Earnings: Profit Beats Estimate, Card Spending Grows, Revises Annual Outlook

American Express Co’s (NYSE:AXP) third-quarter revenue (net of interest expense) grew 8% year-on-year to $16.64 billion, marginally missing the analyst consensus estimate of $16.67 billion. 

The increase was primarily due to higher net interest income, increased Card Member spending, and continued strong card fee growth.

Amex’s stock price went up after the report, but it soon gave up the gains in the premarket session on Friday.

Also Read: Citigroup Remains A Compelling Investment Opportunity: Analysts Take On Q3 Performance

Adjusted EPS of $3.49 beat the analyst consensus estimate of $3.28. 

Card Member spending or Billed Business grew 6% (or 6% forex adjusted) year-over-year ...