American Express 2Q profit jumps 8%

Business

FILE – This Oct. 4, 2016, file photo shows a mockup of an American Express Platinum Card provided by the company, in New York. American Express reports earnings Friday, July 19, 2019. (AP Photo/Patrick Sison, File)

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NEW YORK (AP) — American Express is reporting a profit hike of more than 8% from the second-quarter.

The company on Friday posted net income of $1.76 billion, or $2.07. That’s a 2-cent beat on Wall Street projections, according to a survey by Zacks Investment Research.

Revenue of $10.84 billion also edged out expectations.in the period, also beating Street forecasts. Eight analysts surveyed by Zacks expected $10.82 billion.

Shares edged slightly lower, however, before the opening bell after the company stuck to per-share annual guidance of between $7.85 and $8.35.

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Portions of this story were 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

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