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Last $75.70 USD
Change Today +0.59 / 0.79%
Volume 4.6M
AXP On Other Exchanges
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As of 8:04 PM 07/29/15 All times are local (Market data is delayed by at least 15 minutes).

american express co (AXP) Key Developments

American Express Company Reports Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2015; Provides Earnings Guidance for the Second Half, Full Year 2015, 2016 and 2017; Reports Write Off for the Second Quarter of 2015

American Express Company reported consolidated earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company reported total interest income of $1,837 million compared to $1,759 million for the same period a year ago. Net interest income was $1,423 million compared to $1,316 million last year. Pre-tax income was $2,230 million compared to $2,312 million last year. Net income attributable to common shareholders was $1,442 million or $1.42 per diluted share compared to $1,517 million or $1.43 per diluted share last year. Adjusted net interest income $1,575 million compared to $1,486 million last year. Return on average equity was 28.1% against 28.8% a year ago. Return on average common equity was 28.8% against 28.5% a year ago. Return on average tangible common equity was 35.4% against 35.8% a year ago. Book value per common share was $21.85 against $19.32 a year ago. Results for the quarter were negatively affected by the significant impact of a stronger U.S. dollar on international operations. The year-ago quarter included business travel operations and a gain related to the business travel joint venture transaction. Consolidated total revenues net of interest expense totaled $8.3 billion for the second quarter, down 4% from $8.6 billion a year ago. Excluding the impact of foreign exchange rates and business travel results in the year-ago period, adjusted revenues rose 5%. The increase primarily reflected higher Card Member spending and growth in the loan portfolio. For the six months, the company reported total interest income of $3,694 million compared to $3,535 million for the same period a year ago. Net interest income was $2,870 million compared to $2,653 million last year. Pre-tax income was $4,546 million compared to $4,520 million last year. Net income attributable to common shareholders was $2,956 million or $2.90 per diluted share compared to $2,937 million or $2.77 per diluted share last year. Adjusted total revenues net of interest expense was $16,234 million compared to $16,804 million last year. Return on average equity was 28.1% against 28.8% a year ago. For the full year of 2015, the company expects to achieve flat to modestly down EPS growth and positive earnings per share growth in 2016. The company expects earnings per share for the second half of 2015 to be down versus the prior year, consistent with the company discussions on Investor Day. The company's full year 2015 EPS outlook remains unchanged as the company continue to expect earnings per share for the full year to be flat to modestly down. The company's outlook to return to positive earnings per share growth in 2016 and to be within the company's target range of 12% to 15% earnings per share growth in 2017 remains appropriate. For the second quarter of 2015, the company reported net write-offs were $171 billion against $182 billion a year ago.

American Express Announces Semi-Annual Preferred Stock Dividend, Payable on 1 September 2015

American Express Company announced that it will pay a semi-annual dividend of USD 26,269.44 per share that equals USD 26.26944 per related depositary share, on the company's 4.900% fixed Rate /floating rate non-cumulative preferred shares, series C. This dividend will be paid on 1 September 2015 to shareholders of record on 1 September 2015.

American Express Launches Amex Express Checkout

American Express announced the launch of Amex Express Checkout, a first-ever, fast and secure way for U.S. Card Members to check out quickly at participating online merchants by using their americanexpress.com account login. With Amex Express Checkout, Card Members simply use their existing americanexpress.com User ID and Password, and American Express auto-fills the checkout fields with their American Express® Card details and relevant account information in just a few clicks. Unlike other online payments tools currently in the marketplace, Amex Express Checkout is not a wallet, and does not require a Card Member to create or manage a new account. Amex Express Checkout is available for Card Members to use online at BarkBox, Burberry, Ledbury, Newegg, Sabon, Ticketmaster, Warby Parkerand The Wall Street Journal. American Express and Stripe are working together to allow merchants using Stripe as a payments platform to easily enable Amex Express Checkout for their customers. And, Amex Express Checkout is expected to be available in the coming months on websites for Avis Car Rental, Banana Republic, Cole Haan, Hulu, Gap, Intermix, Old Navy, POPSUGAR Must Have, Rocketmiles, 1-800-FLOWERS.COM and others. With Amex Express Checkout, a Card Member’s account information is transferred to the merchant through a token allowing for safer transactions than traditional online checkout. And because American Express auto-fills account information in real-time for every online transaction via Amex Express Checkout, both Card Members and merchants are assured that the Card number and billing details provided are current – eliminating the need to manually update those details, as may be required with an online wallet.

American Express Company to Report Q2, 2015 Results on Jul 22, 2015

American Express Company announced that they will report Q2, 2015 results at 5:00 PM, US Eastern Standard Time on Jul 22, 2015

American Express Company, Q2 2015 Earnings Call, Jul 22, 2015

American Express Company, Q2 2015 Earnings Call, Jul 22, 2015

 

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Industry Analysis

AXP

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Valuation AXP Industry Range
Price/Earnings 13.2x
Price/Sales 2.4x
Price/Book 3.4x
Price/Cash Flow 12.9x
TEV/Sales NM Not Meaningful
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