American Express quarterly profit plunges 76 per cent on $1.7-billion reserve build [Toronto Globe and Mail (Ontario, Canada)]
American Express Company (AXP)
Last american express company earnings: 4/24 07:00 am
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Source: Toronto Globe and Mail
American Express quarterly profit plunges 76 per cent on $1.7-billion reserve build American Express released quarterly results Friday. Lucy Nicholson/Reuters American Express released quarterly results Friday. Credit card issuer American Express Co posted a 76 per cent drop in quarterly profit on Friday, as it set aside $1.7 billion to brace itself against potential non-payments due to a wave of coronavirus-led layoffs. The pandemic has hammered the global economy, hurting consumers’ ability to make payments on their credit cards. The lockdowns around the world are also hitting transaction volume as people stay at home. “In light of the current environment, we are aggressively reducing costs across the enterprise,” said Chief Executive Officer Stephen Squeri, adding that the deterioration in the economy due to the virus accelerated in April and has dramatically impacted its volumes. However, shares of the company were up nearly 2 per cent, as it kept a tight lid on costs to weathe
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AXP
Earnings
- 10/20/25 - Beat
AXP
Sec Filings
- 11/17/25 - Form 8-K
- 11/4/25 - Form 4
- 11/4/25 - Form 4
- AXP's page on the SEC website