American Express beats Q3 views, raises full-year guidance

American Express beats Q3 views, raises full-year guidance

Shares of American Express Co. AXP, -1.44% rose 0.7% in the extended session Thursday after the credit card company reported third-quarter earnings above Wall Street expectations and raised its full-year guidance. American Express said it earned $1.65 billion, or $1.88 a share, in the quarter, compared with $1.36 billion in the year-ago period. Revenue rose 9% to $10.14 billion, from $9.29 billion a year ago. Analysts polled by FactSet had expected the company to report earnings of $1.77 a share on sales of $10.06 billion. The company said it expects full-year 2018 revenues to be up 9% to 10% and adjusted EPS between $7.30 a share and $7.40 a share, up from a previous range between $6.90 a share and $7.30 a share. “We delivered strong results this quarter driven by higher card member spending, fee income and loans,” Chief Executive Stephen J. Squeri said in a statement. Shares ended the regular trading session down 1.4%.

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