Shares of American Express Company (AXP) are falling more than 4% Friday morning following second-quarter results.
Net income was $2.2 billion, or $2.89 per share in the second quarter, up from $2.0 billion, or $2.57 per share, a year ago.
Revenues net of interest expense were $15.1 billion, grew 12 percent from $13.4 billion a year ago.
Analysts on average polled by Thomson-Reuters expected the company to report earnings of $2.81 per share from $15.48 billion for the quarter.
However, the company has provided provisions for credit losses of $1.2 billion, significantly higher than $410 million a year ago.
AXP is at $168.89 currently. It has traded in the range of $130.65 - 182.15 in the last 1 year.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.