Category Archives: Financing Unleashed

The Growing Opportunities In Practical Tactics For Small Business Funding

Twenty-two analysts had a consensus revenue estimate of $7.95 billion for the quarter. The company said the quarter included higher spending on growth initiatives, largely reflected in marketing and promotion expenses. The company showed significant progress on its plans to reduce its cost base by $1 billion, American Express said in a statement. Excluding last year’s Costco-related business and the effect of foreign exchange rates, adjusted revenues net of interest expense increased 6 percent, driven largely by higher card spending and interest income. Last year, AmEx ended a 16-year partnership with Costco Wholesale Corp.’s (COST). Provisions for losses were $625 million, up 9 percent from a year ago, primarily reflecting higher loan growth. Moving ahead, AmEx now expects full-year earnings of $5.60 to $5.80 per share up from prior outlook of $5.60 per share. Analysts currently estimate earnings of $5.75 for 2017.

http://www.rttnews.com/2734762/american-express-q4-profit-down.aspx?type=corp

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