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NEW YORK (AP) — NEW YORK (AP) — American Express Co. (AXP) on Thursday reported first-quarter profit of $1.82 billion.
On a per-share basis, the New York-based company said it had net income of $2.40.
The results missed Wall Street expectations. The average estimate of 14 analysts surveyed by Zacks Investment Research was for earnings of $2.64 per share.
The credit card issuer and global payments company posted revenue of $14.28 billion in the period, which topped Street forecasts. Thirteen analysts surveyed by Zacks expected $14.01 billion.
American Express expects full-year earnings to be $11 to $11.40 per share.
American Express shares have increased 12% since the beginning of the year, while the S&P's 500 index has climbed 8%. The stock has dropped 12% in the last 12 months.
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This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a AXP">Zacks stock report on AXP at https://www.zacks.com/ap/AXP