Why Shares of American Express Are Up Today
Shares of American Express Co. (NYSE: AXP) traded up more than 5% on Friday morning, before giving some of that gain back in the afternoon, after the company reported better-than-expected fourth-quarter earnings and provided an optimistic outlook for 2020. The company has now grown revenue by at least 8% for 10 straight quarters and management believes AmEx is well positioned to continue to generate growth.
American Express before markets opened Friday reported fourth-quarter earnings of $2.03 per share on revenue of $11.37 billion, ahead of expectations for $2.01 per share in earnings on sales of $11.36 billion. The earnings per share number was 17% above the fourth quarter 2018, and net revenue was up 9% year over year.
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Source Fool.com
