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American Express falls 1% despite earnings beat

American Express reported second-quarter earnings that beat analysts' expectations Wednesday after the bell.

Here's how the company did compared with what Wall Street expected:

  • EPS: $1.47 vs. $1.43, according to Thomson Reuters
  • Revenue: $8.31 billion vs. $8.20 billion, according to Thomson Reuters

In the year-earlier quarter, the company reported earnings of $2.10 per share on revenue of $8.24 billion.

American Express reported net income of $1.3 billion, down 33 percent. The company said, however, it still had a relationship with Costco in the year-ago quarter.

The relationship ended last year. Visa and Citi now partner with Costco for its credit cards.

American Express Chairman and CEO Kenneth Chenault said the company has moved away from co-brand...


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