American Express reaffirms its annual objectives

(AOF) – Credit card issuer American Express revealed better than expected results. In the first quarter, net income jumped 34% to $2.44 billion, or $3.33 per share. Earnings per share came in below consensus at $2.96. Its revenues increased by 11% to $15.8 billion. American Express recorded $1.3 billion in provisions for loan losses compared to $1.1 billion a year earlier.

This year, the company still expects earnings per share of between $12.65 and $13.15, compared with a consensus of $12.41. Revenues are expected to increase by 9% to 11%.

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