AXP American Express beats by $0.06, reports revs in-line

AXP American Express beats by $0.06, reports revs in-line (43.19 )

 

Reports Q2 (Jun) earnings of $0.84 per share, $0.06 better than the Thomson Reuters consensus of $0.78; revenues rose 12.6% year/year to $6.86 bln vs the $6.84 bln consensus. Consolidated provisions for losses totaled $652 million compared to $1.6 billion in the year-ago period, reflecting continued improvement in credit quality for the charge and credit card portfolios. US Card Provisions for losses totaled $519 million, down 56 percent from $1.2 billion a year ago. The decline reflected continued improvement in credit quality for the charge and credit card portfolios.

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