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Actionable news in AXP: AMERICAN EXPRESS COMPANY,

American Express (AXP) Set to Grow on Strategic Initiatives

On Aug 14, we issued an updated research report on American Express Co. AXP. During the most recently reported quarter, the company’s earnings of $1.47 per share beat the Zacks Consensus Estimate by 0.7%, but witnessed a sharp 30% year-over-year decline.

Better-than-expected results were mainly backed by a lower tax rate and the effect of share buyback. However, when comparing year over year, the bottom line suffered as the year-ago earnings reflected the $1.1 billion gain recorded from the sale of the Costco Wholesale Corp. COST.

Overall results reflected solid progress against the company’s current priorities of accelerating revenue growth, optimizing investments and resetting the cost base.

American Express is set to benefit from continued secular growth of electronic payments globally. Convenience, security, and enhanced services and rewards for consumers continue to fuel growth in electronic payments.

The company remains focused on several...


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