American Express Third Quarter EPS Up 15% To $1.25; Revenues, Card Member Spending And Loans Continue To Grow

American Express Company (NYSE:AXP) today reported third-quarter net income of $1.4 billion, up 9 percent from a year ago. Diluted earnings per share was $1.25, up 15 percent from $1.09 a year ago.

(Millions, except percentages and per share amounts)
       
Quarters Ended Percentage Nine Months Ended Percentage

September 30,

Inc/(Dec)

September 30,

Inc/(Dec)

2013
 

2012

2013
 

2012
Total Revenues Net of Interest Expense $ 8,301 $ 7,862 6 % $ 24,427 $ 23,414 4 %
Net Income $ 1,366 $ 1,250 9 % $ 4,051 $ 3,845 5 %
Earnings Per Common Share – Diluted:

Net Income Attributable to Common Shareholders 1
$ 1.25 $ 1.09 15 % $ 3.67 $ 3.31 11 %
Average Diluted Common Shares Outstanding 1,081 1,132 (5 )% 1,094 1,149 (5 )%
Return on Average Equity 24.3 % 26.3 % 24.3 % 26.3 %
 

Consolidated total revenues net of interest expense rose 6 percent to $8.3 billion in the third quarter, from $7.9 billion a year ago. The increase was driven by a rise in Card Member spending and higher net interest income that reflected lower funding costs and growth in Card Member loans.

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