Notifications Bell

American Express Q3 results came below expectations

American Express Q3 results came below expectations

Despicable Q3 for American Express

One of the largest US credit card issuers – American Express reported Q3 figures that left the market speechless.

AXP reported a nearly 40% drop in quarterly profit. The figures were hurt by a lower consumer spending, induced by the pandemic.

Its net income dropped to $1.07 billion, or $1.30 per share. It came lower than last year’s figures of $1.76 billion, with $2.08 a share. The revenue also dropped, coming in at $8.8 billion – 20% lower than the same quarter last year.

It also dropped the loss provisions. The numbers showed a 24% decrease from last year’s $665 million.

After the news hit the wire, pre-market, American Express stock price was trading 2.83% lower.


The information presented herein is prepared by and does not intend to constitute Investment Advice. The information herein is provided as a general marketing communication for information purposes only and as such it has not been prepared in accordance with legal requirements designed to promote the independence of investment research, and it is not subject to any prohibition on dealing ahead of the dissemination of investment research.

Users/readers should not rely solely on the information presented herewith and should do their own research/analysis by also reading the actual underlying research. The content herewith is generic and does not take into consideration individual personal circumstances, investment experience or current financial situation.

Therefore, Key Way Investments Ltd shall not accept any responsibility for any losses of traders due to the use and the content of the information presented herein. Past performance and forecasts are not reliable indicators of future results.