Why American Express Stock Is Trading Higher Today

American Express Co AXP shares are trading higher Friday morning after the company reported better-than-expected financial results. 

American Express reported second-quarter earnings of $2.80 per share, which beat the estimate of $1.58 per share. The company reported quarterly revenue of $10.24 billion, which beat the estimate of $9.54 billion. 

'Our strong second quarter results show that the steps we have taken to manage the company through the pandemic and our strategy of investing to rebuild our growth momentum are paying off,' said Stephen Squeri, chairman and CEO of American Express.

American Express is a global financial institution that provides consumers and businesses charge and credit card payment products in approximately 130 countries.

Price Action: American Express is making a new 52-week high in premarket trading today.

At last check Friday, the stock was up 3.66% at $177.17.