| American Express
Earnings Call |
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American Express Earnings Call, Second Quarter 2008
22nd July 2008 00:00 AM |
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| Sales growth was offset by credit deterioration as the firm intensifies re-engineering efforts towards reducing cost structure and staffing levels. |
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| The credit card company reported income of $655 million or 56 cents a share, down 38% from $1.1 billion or 88 cents a share in 2007, reflecting higher credit losses in U.S. card services. Revenues rose 8% to $7.5 billion on card fee growth. The overall billed business and cards in force growth rate where the gap between performance and that of most major competitors demonstrate the effectiveness and ongoing benefit of marketing and rewards investment over the past several years. |
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American Express First Quarter Earnings Call
26th May 2008 00:00 AM |
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| The management continues on a strategy centered on positioning the company to gain profitable share despite the macro environment. |
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| The leading global payments and travel company reported stronger than expected revenue growth, despite a weak and uncertain U.S. economy. The first quarter consolidated revenues, net of interest expense, of $7.2 billion compared with $6.5 billion in the same period last year. The income from continuing operations were $974 million, a decrease of 11% from $1.1 billion in the first quarter of 2007. The company remains on track for the 4% to 6% EPS growth indicated at start of the year. |
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American Express Fourth Quarter Earnings Call
14th March 2008 00:00 AM |
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| Net revenue rose 10% from $6.7 billion a year ago to $7.4 billion, driven by strong growth in cardmember spending, loans, and cards in force. |
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| The leading global payments, network and travel company reported a 6% decrease in income from continuing operation of $839 million from $895 million a year ago, as diluted earnings per share from continuing operations decreased 3% to 71 cents from 73 cents a year ago. The results reflected the benefits of the company’s multiyear investments in a broad range of business building initiatives which have yielded industry leading performance for the quarter. |
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American Express Company Third Quarter Earnings Call
11th December 2007 00:00 AM |
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| Profit rose to $1.07 billion fueled by higher spending by wealthy individuals and small-business customers. |
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| American Express reported revenue of $7.95 billion compared to $6.99 billion last year. Expenses were $4.5 billion, a 9% increase from the period a year earlier. Its return on equity for the period came in at 38.2%. In September, the firm agreed to sell the unit to the U.K.''s Standard Chartered in a deal worth $1.1 billion in total. American Express increased its provisioning for potential loan losses by 25% to $982 million. |
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American Express Second Quarter Earnings Call
23rd October 2007 00:00 AM |
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| Profit was $1.05 billion, or 88 cents a share, compared with $945 million, or 76 cents a share a year ago. |
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| The New York credit card and financial services company added that revenue in the quarter, excluding interest expense, rose 9% to $7.1 billion. The second quarter included a $65 million tax benefit from the IRS tied to the treatment of prior years'' fee income. While American Express U.S. card services unit posted a 2% lower profit of $580 million, its international card and global commercial services enjoyed a 22% rise in profit to $277 million. |
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American Express First Quarter Earnings Call
30th April 2007 00:00 AM |
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| Net income for the quarter was a record, exceeding the $1 billion level for the first time since the Ameriprise spin-off in late 2005. |
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| The leading financial institution reported revenue of $6.7 billion, an increase of 10% over the prior year quarter. The strong revenue growth in the quarter reflects increases in discount revenue, finance revenue and other card-related revenues. The company made some changes to its financial statements, related to the format of presenting some P&L items and segments. American Express added 1.9 million net new cards during the quarter and 7.4 net new cards since last year. |
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