American Express Second Quarter EPS Up 10% To $1.27; Revenues, Cardmember Spending And Loan Portfolio Grow, Total Expenses Up 1%

American Express Company (NYSE: AXP) today reported second-quarter net income of $1.4 billion, up 5 percent from $1.3 billion a year ago. Diluted earnings per share was $1.27, up 10 percent from $1.15 a year ago.

(Millions, except per share amounts)
               
Quarters Ended

June 30,
Percentage

Inc/(Dec)
Six Months Ended

June 30,
Percentage

Inc/(Dec)
2013     2012 2013     2012
Total Revenues Net of Interest Expense $ 8,245 $ 7,965 4 % $ 16,126 $ 15,552 4 %
Net Income $ 1,405 $ 1,339 5 % $ 2,685 $ 2,595 3 %
Earnings Per Common Share – Diluted:

Net Income Attributable to Common Shareholders 1
$ 1.27 $ 1.15 10 % $ 2.42 $ 2.22 9 %
Average Diluted Common Shares Outstanding 1,097 1,152 (5) % 1,101 1,158 (5) %
Return on Average Equity 23.6 % 26.6 % 23.6 % 26.6 %
 

Second quarter consolidated total revenues net of interest expense rose 4 percent to $8.2 billion, from $8.0 billion a year ago. The increase reflected higher cardmember spending and growth in the cardmember loan portfolio, which helped to generate higher net interest income.

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