NEW YORK (AP) _ American Express Co. (AXP) on Friday reported third-quarter net income of $1.72 billion.
On a per-share basis, the New York-based company said it had net income of $2.08.
The results exceeded Wall Street expectations. The average estimate of 10 analysts surveyed by Zacks Investment Research was for earnings of $2.07 per share.
The credit card issuer and global payments company posted revenue of $10.99 billion in the period, also exceeding Street forecasts. Eight analysts surveyed by Zacks expected $10.95 billion.
American Express expects full-year earnings in the range of $7.85 to $8.35 per share.
American Express shares have risen 25% since the beginning of the year, while the Standard & Poor’s 500 index has risen 20%. The stock has increased 14% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on AXP at https://www.zacks.com/ap/AXP
The Associated Press