American Express reported third-quarter profit increased 9.3% to $1.37 billion or $1.25 a share, from $1.25 billion or $1.09 a share a year earlier. Revenue was up 6% to $8.3 billion, due to an increase in credit card usage and decline in payment defaults.
Shares were up 1.4% to $76.32 by market close Wednesday, gaining a further 0.24% in after-hours trading.
TheStreet Ratings team rates American Express Co as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:"We rate American Express Co (AXP) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its revenue growth, solid stock price performance, growth in earnings per share, increase in net income and notable return on equity. We feel these strengths outweigh the fact that the company has had generally high debt management risk by most measures that we evaluated."
- You can view the full analysis from the report here: AXP Ratings Report
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