American Express (NYSE:AXP) earnings for the payment card company’s fourth quarter of 2019 have AXP stock heading higher on Friday. That’s thanks to its adjusted per-share earnings of $2.03. This beats out Wall Street’s estimate of $2.01 per share. Revenue of $11.37 billion also comes in above analysts’ estimates of $11.36 billion.
Here are some additional highlights from the most recent American Express earnings report.
- Adjusted earnings per share are up 16.67% from $1.74 in the same period of the year prior.
- Revenue comes in 8.60% above the $10.47 billion from the fourth quarter of 2018.
- The American Express earnings report also has net income coming in at $1.69 billion.
- This is a 15.92% drop from the company’s net income of $2.01 reported during the same time last year.
Stephen Squeri, Chairman and CEO of American Express, has this to say about the AXP stock earnings report.
“We once again delivered steady, consistent performance in the fourth quarter, marking our 10th straight quarter of FX-adjusted revenue growth at or above 8 percent. These results demonstrate the success of our strategy to generate sustainable, profitable growth across the enterprise over the long term.”
The American Express earnings report also offers a strong outlook for the full year of 2020. That includes adjusted EPS ranging from $8.85 to $9.25. This is great news with the midpoint of $9.05 in the guidance sitting well above Wall Street’s estimate of $8.98 per share for the year.
AXP stock was up 1.93% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.