American Express

Q2 Results Q/Q Comparison:

  • Revenue decreased 1% to $8.24B
    • Revenue increased 1% currency neutral
  • GAAP Diluted EPS increased 48% to $2.10
    • Includes Costco portfolio sale gain of $0.72 and restructuring charge of $0.16
  • Net Income increased 37% to $1.02B
    • Includes Costco portfolio sale gain of $677M ($1.1B pretax) and restructuring charge of $151M ($232M pretax)
  • Total cards-in-force decreased 5% to 108.2 million
    • United States cards-in-force decreased 15% to 47.0 million
    • Outside United States cards-in-force increased 5% to 61.2 million
  • Card billed business increased 3% to $269.3B (increased 4% constant currency)
    • United States card billed business increased 2% to $185.1B
    • Outside United States card billed business increased 5% to $84.2B (increased 10% constant currency)
  • Average discount rate of 2.43% down from 2.49%
    • Discount revenue decreased 2% to $4.82B
  • Net write-offs of 1.5%, up from 1.4%
  • Loans 30 days past due of 1.1%, up from 1.0%
  • Tier 1 capital of 14.7%
  • Return on Equity of 26%, down from 28%
  • Returned 99% of earnings to shareholders

Stock Price: $63
Market Capitalization: $60 billion

July 20, 2016

 

 

 


 


 

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