January 27, 2021

American Express achieves 24% more profits between January and September

American Express achieves 24% more profits between January and September



The American Express firm announced today that in the first nine months of this year, from January to September, its net profits rose by 24% to 4,911 million dollars.

By reporting the quarterly results and the accumulated results through September, American Express reported that its net profit per share between last January and September was $ 5.59, compared to the 4.33 it had in the same period last year. , which represents an increase of 29%.

Accumulated revenues reached 29,864 million dollars, an increase of 10% over the same period last year, when it invoiced 27,171 million dollars.

Regarding the third quarter, the period that was most analyzed today Wall Street, American Express reported that its net profits grew by 22% to 1,654 million dollars.

In the third quarter of the year the firm had an increase of 9% in its income, to 10,144 million dollars, while the quarterly benefit per share was of 1,88 dollars, compared to the profit of 1,51 dollars that it had in the third quarter of 2016.

The results were disclosed at the close of Wall Street, but in subsequent electronic transactions the company's shares fell 1.44%, despite the firm's results were higher than expected.

The company said it is confident that year-round revenues in 2018 will increase between 9% and 10%.

"We obtained solid results this quarter driven by higher spending from customers who have our cards, commission income and loans," American Express CEO Stephen J. Squeri said in a statement.

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