NEW YORK (AP) – American Express Co. on Wednesday reported second-quarter profit of $1.31 billion.
On a per-share basis, the New York-based company said it had net income of $1.47.
The results topped Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $1.46 per share.
The credit card issuer and global payments company posted revenue of $8.31 billion in the period, also topping Street forecasts. Six analysts surveyed by Zacks expected $8.19 billion.
American Express expects full-year earnings to be $5.60 to $5.80 per share.
American Express shares have risen 16 percent since the beginning of the year, while the Standard & Poor’s 500 index has climbed 10 percent. In the final minutes of trading on Wednesday, shares hit $85.93, an increase of 34 percent in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXP at https://www.zacks.com/ap/AXP
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