logo
  

American Express Says Confident To Be Within High End Range Of FY20 Earnings View In FY22

While announcing higher second-quarter profit and sales, integrated payments company American Express Co. (AXP) Friday said it is confident in its ability to be within the high end of the range of earnings per share expectations it had for 2020 in 2022. The outlook is based on the current trends.

In pre-market activity, American Express shares were gaining around 3.3 percent to trade at $176.50.

Stephen Squeri, Chairman and Chief Executive Officer, said, "As we look ahead, we are increasingly optimistic that the momentum we've generated will continue given the strength we see in our core business, particularly in the U.S., even as the pace of the recovery remains uneven in different regions around the world."

In its second quarter, profit climbed to $2.28 billion or $2.80 per share from last year's $0.26 billion, or $0.29 per share. The company's revenue for the quarter rose 33.3% to $10.24 billion from $7.68 billion last year.

Analysts had expected the company to earn $1.58 per share on revenues of $9.54 billion, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

For comments and feedback contact: editorial@rttnews.com

Business News

Editors Pick
Velvet Ice Cream recalled certain lots of its 56 oz Raspberry Fudge Cordial Ice Cream for potentially containing undeclared peanuts, the U.S. Food and Drug Administration or FDA said in a statement. The recall was initiated after it was notified of the issue by a single customer and has since learned that the cause of the error has been traced to a third-party manufacturer packaging error. Willard, Ohio-based Buurma Farms Inc. is recalling 320 boxes of its Plain Parsley citing possible contamination with Shiga-toxin producing E.coli, the U.S. Food and Drug Administration said. The recall involves Buurma Plain (flat leaf) Parsley with a harvest date of August 30, 2021 from their Gregory, Michigan location. Molson Coors Beverage Co. is bringing Topo Chico Hard Seltzer, the sparkling mineral water, across the United States starting January 2022. The company will officially expand the distribution of the product, which was launched last spring in nine states and seven metro areas, to all 50 states. Molson Coors is manufacturing, marketing and distributing Topo Chico Hard Seltzer in the U.S.
Follow RTT