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Stock impact report

American Express Tops Q1 Earnings Forecast, Sets Aside $2.6 Billion [TheStreet.com]

American Express Company (AXP) 
Last american express company earnings: 4/24 07:00 am Check Earnings Report
US:NYSE Investor Relations: ir.americanexpress.com
Company Research Source: TheStreet.com
American Express Co.(AXPGet ReportAmerican Express said earnings for the three months ending in March were pegged at 41 cents per shares down some 77.2% from the same period last year. Adjusted earnings, however, came in at $1.98 per share and topped the Street consensus of $1.69 per share. Group revenues, American Express said, were largely flat to last year at $10.3 billion.The credit card provider also said it has set aside $2.6 billion in loss provisions against missed payments and defaults, a 220% increase from the first quarter of last year. However, the group said it will extend the amount of time merchants can have to address payment disputes and will offer short and long-term financial assistance to card members."The first two months of 2020 continued the strong momentum we have delivered over the past two years, but we're now in a different world,' said CEO Stephen. "The deterioration in the economy due to COVID-19 impacts that began in the first quarter and accelerated in A Show less Read more
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