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American Express Fourth Quarter EPS Rises To $1.21 From $0.56 Last Year; Revenues And Loans Increase As Card Member Spending Ends Year On Strong Note; Credit Indicators Remain At Historical Lows; Operating Expenses Well Contained In The Quarter

American Express Company (NYSE:AXP) today reported fourth-quarter net income of $1.3 billion, up from $637 million a year ago. Diluted earnings per share rose to $1.21, from $0.56 a year ago. Excluding expenses associated with the merchant litigation settlement agreement announced in late December, fourth-quarter adjusted net income was $1.3 billion, or $1.25 per share. 2

 
 

(Millions, except percentages and per share amounts)

                   

Quarters Ended December 31,

Percentage Inc/(Dec)

Years Ended December 31,

Percentage Inc/(Dec)

       

2013

2012

2013

2012

Total Revenues Net of Interest Expense $ 8,547 $ 8,141 5 % $ 32,974 $ 31,555 4 %
Net Income $ 1,308 $ 637 # $ 5,359 $ 4,482 20 %
Earnings Per Common Share – Diluted:

Net Income Attributable to Common Shareholders 1

$ 1.21 $ 0.56 # $ 4.88 $ 3.89 25 %
Average Diluted Common Shares Outstanding 1,073 1,116 (4 )% 1,089 1,141 (5 )%

Return on Average Equity

27.8 % 23.1 %

 

27.8 % 23.1 %

# Denotes a variance of more than 100%

 
 

The year-ago quarter included three significant items: a restructuring charge; an expense associated with higher estimated redemptions of Membership Rewards points; and the impact of Card Member reimbursements.

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