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American Express (AXP) Tops Q1 Earnings and Revenue Estimates

American Express Company AXP just released its first quarter fiscal 2016 earnings results, posting earnings of $1.45 per share and revenue of $8.1 billion.  

Currently, AXP has a Zacks Rank #3 (Hold), but it is subject to change following the release of the company’s latest earnings report. Here are 5 key statistics from this just announced report below.

American Express:                              

1. Beat earnings estimates. The company posted earnings of $1.45, topping our Zacks Consensus Estimate of $1.36.

2. Beat revenue estimates. The company saw revenue figures of $8.1 billion, surpassing our consensus estimate of $8.004 billion and reflecting a 1.9% increase on a year-over-year basis.

3. Reported net income of $1.4 billion, down 6% from the year-ago period.

4. Posted consolidated provisions for losses of $434 million, up 3% from $420 million a year ago.

5. AXP was up $2.48, or 3.81%, to $67.50 as of 4:38 PM ET in after-hours trading shortly after its earnings report was released.

Here’s a graph that looks at American Express’ Street Actual and Estimate EPS:

American Express Company is primarily engaged in the business of providing travel related services, financial advisory services and international banking services throughout the world. American Express Travel Related Services Company, Inc. provides a variety of products and services, including, global network services, the American Express Card, the Optima Card and other consumer and corporate lending products, stored value products, and several others.

Check back later for our full analysis onAmerican Express’ first quarter earnings report!

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