News Summary: American Express' 4Q earnings fall

Published on NewsOK Modified: January 17, 2013 at 8:06 pm •  Published: January 17, 2013
Advertisement
;

EARNINGS DOWN: American Express' net income fell 47 percent in the fourth quarter, as the credit card issuer racked up charges related to restructuring costs and other expenses. The company's adjusted earnings beat Wall Street estimates.

THE NUMBERS: For the three months ended Dec. 31, net income fell to $637 million, or 56 cents per share. That compares with net income of $1.2 billion, or $1.01 per share, in the same period last year. Revenue in the latest quarter grew 5 percent to $8.14 billion.

SPENDING UP: Spending by American Express cardholders rose 8 percent.



Trending Now


AROUND THE WEB

  1. 1
    OU basketball: Time, TV listing announced for Sooners' December game against Washington
  2. 2
    Lawsuit: 'Duck Dynasty' stole 'camo' idea
  3. 3
    Here's What Gaza Explosions Look Like From Space
  4. 4
    Preseason All-ACC team has nine Florida State players
  5. 5
    Sarah Palin bites into 'True Blood' for 'misogynist attacks'
+ show more