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American Express Sees 2020 EPS In Line With View

American Express Co. (AXP) expects revenue growth to be in the range of 8 to 10 percent on an FX-adjusted basis and earnings of $8.85 - $9.25 per share for 2020. Analysts polled by Thomson Reuters expected the company to report earnings of $8.98 per share for fiscal year 2020. Analysts' estimates typically exclude special items.

The company reported that its fourth-quarter net income declined to $1.69 billion, or $2.03 per share, from $2.01 billion, or $2.32 per share, a year ago. The year-ago period included $496 million, or $0.58 per share, of certain discrete tax benefits. Analysts polled by Thomson Reuters expected the company to report earnings of $2.01 per share. Analysts' estimates typically exclude special items.

Fourth-quarter consolidated total revenues net of interest expense were $11.37 billion, up 9 percent from $10.47 billion a year ago. This growth continued to be driven by a well-balanced mix of growth in fee, spend and lend revenues, consistent with the high levels of revenue growth the company has delivered for over two years. Analysts expected revenues of $11.36 billion.

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