American Express Reports Mixed Q2 Earnings

American Express AXP reported second quarter earnings of $2.07 per share, which beat the analyst consensus estimate of $2.04. This is a 12.5% increase over earnings of $1.84 per share from the same period last year.

The company reported quarterly sales of $10.8 billion, which missed the analyst consensus estimate of $10.82 billion. This is a 7.98% increase over sales of $10.002 billion the same period last year.

"We continued the broad-based momentum throughout our business with the eighth straight quarter of FX-adjusted revenue growth at 8 percent or better," said CEO Steve Squeri. "Once again, our performance was driven by a well-balanced mix of spending volumes, lending income and card fees.

American Express shares are trading lower by 0.33% at $127.97 in Friday’s pre-market session. The stock has a 52-week high of $129.34 and a 52-week low of $89.05.

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