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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| American Express Company | NYSE:AXP | NYSE | Common Stock |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| -1.46 | -0.62% | 235.64 | 236.92 | 234.4248 | 235.58 | 2,992,846 | 00:14:51 |
From Apr 2019 to Apr 2024
By Allison Prang
American Express Co. logged a negative provision for credit losses in its latest quarter, helping to pump up earnings, but the credit-card company's top line declined.
Profit for the first quarter rose to $2.24 billion, up from $367 million a year earlier, and the company's earnings were $2.74 a share, topping Wall Street's consensus according to FactSet of $1.61 a share. A year ago, earnings were 41 cents a share.
American Express had a negative provision for credit losses of $675 million. The company's provision a year earlier was $2.62 billion. Many financial firms have also logged negative provisions as the economic outlook has improved amid the Covid-19 pandemic.
Revenue at the company, net of interest expense, fell 12% to $9.06 billion, while Wall Street was expecting $9.21 billion.
Write to Allison Prang at allison.prang@wsj.com
(END) Dow Jones Newswires
April 23, 2021 07:14 ET (11:14 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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