American Express: We’re Baaaack….

American Express (AXP) had dropped 4.3% during the month of trading before its earnings release last night. Now it’s doing its best to reclaim those losses and extend a rally that began in February 2016 after reporting earnings last night.

American Express reported a profit of $1.34 a share, on sales of $7.89 billion. While those numbers were down from a year ago thanks to the loss of Costco Wholesale (COST) as a customer, they topped the Street consensus for $1.28 a share on revenue of $7.75 billion.

JPMorgan’s Richard Shane and team claim that American Express is “becoming great again.” They explain why:
Source: Barrons

Leave a Reply

Your email address will not be published.

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>