NEW YORK (AP) _ American Express Co. (AXP) on Friday reported fourth-quarter net income of $1.69 billion.
On a per-share basis, the New York-based company said it had net income of $2.03.
The results exceeded Wall Street expectations. The average estimate of nine analysts surveyed by Zacks Investment Research was for earnings of $2 per share.
The credit card issuer and global payments company posted revenue of $11.37 billion in the period, also exceeding Street forecasts. Seven analysts surveyed by Zacks expected $11.36 billion.
American Express expects full-year earnings to be $8.85 to $9.25 per share.
American Express shares have risen 5.5% since the beginning of the year, while the Standard & Poor’s 500 index has risen almost 3%. The stock has climbed 32% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXP at https://www.zacks.com/ap/AXP
The Associated Press
