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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 | |
---|---|---|---|---|---|---|---|---|
-1.71 | -0.74% | 230.79 | 233.35 | 229.13 | 233.26 | 3,202,527 | 01:00:00 |
American Express Company (NYSE:AXP) today reaffirmed the company’s financial outlook for 2015, 2016 and 2017.
In remarks prepared for a presentation at the Barclays Global Financial Services Conference here today, Chief Financial Officer Jeffrey C. Campbell said, “For the full year, our 2015 EPS outlook remains unchanged, as we continue to expect EPS to be flat to modestly down. We also believe our outlook to return to positive earnings per share growth in 2016 and within our target range of 12-15% in 2017 remains appropriate. As you recall, this outlook does not contemplate the impact of any restructuring charges or other contingencies.”
Echoing comments made earlier this year at the company’s Investor Day, Mr. Campbell reiterated, “We will likely have more unevenness in our performance from quarter to quarter than has been typical of our business.”
Mr. Campbell also said, “We believe that our core underlying earnings performance this quarter will be generally consistent with the financial outlook framework that we first shared with you at our Investor Day in March. Although after adjusting for FX, we do expect the billings growth rate this quarter to be in line with or modestly below what we saw in the second quarter. In addition, we expect revenue growth this quarter to be slower than the second quarter revenue growth rate, adjusting for FX and business travel.”
Mr. Campbell said, “As we have noted on many occasions, we have confidence in the flexibility of our business model, as demonstrated by our results the last few years, which gives us the ability to use different levers – revenue growth, operating expense leverage, and use of our capital strength and share repurchases – to drive our financial performance.”
A live audio webcast is available to the general public through the American Express Investor Relations website at http://ir.americanexpress.com. An audio replay of the presentation will be available after the event at the same website address.
About American Express
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, foursquare.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress.
Key links to products and services: charge and credit cards, business credit cards, Plenti rewards program, travel services, gift cards, prepaid cards, merchant services, corporate card and business travel.
Cautionary Note Regarding Forward-looking Statements
This release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, which are subject to risks and uncertainties. The forward-looking statements address the Company’s expected business and financial performance, including management’s outlook for 2015-2017, among other matters. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date on which they are made. The Company undertakes no obligation to update or revise any forward-looking statements. Factors that could cause actual results to differ materially from these forward-looking statements, include, but are not limited to, the following:
A further description of these uncertainties and other risks can be found in the Company's Annual Report on Form 10-K for the year ended December 31, 2014, the Company's Quarterly Reports on Form 10-Q for the quarters ended March 31 and June 30, 2015, the Company's other filings with the Securities and Exchange Commission and the Company’s presentation materials for the Barclays Global Financial Services Conference available on the American Express Investor Relations website at http://ir.americanexpress.com.
View source version on businesswire.com: http://www.businesswire.com/news/home/20150918005527/en/
Media:Marina H. Norville, marina.h.norville@aexp.com, +1-212-640-2832Investors/Analysts:Ken Paukowits, ken.f.paukowits@aexp.com, +1-212-640-6348Toby Willard, sherwood.s.willardjr@aexp.com, +1-212-640-5574
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