American Express Backs Earnings Outlook Through 2017
19 September 2015 - 2:40AM
Dow Jones News
American Express Co. on Friday backed its outlook through 2017,
though the company said revenue growth this quarter would be slow
sequentially.
Chief Financial Officer Jeffrey Campbell made the comments about
the firm's projections ahead of a presentation Friday at Barclays'
Global Financial Services Conference in New York.
For the year, Mr. Campbell said American Express still expects
per-share earnings to be flat to modestly down. The company
reported $5.39 in adjusted earnings per share last year. Analysts,
according to Thomson Reuters, have predicted an increase to $5.49
this year.
Expectations for a return to per-share earnings growth in 2016
and for growth of 12% to 15% in 2017 "remains appropriate," said
Mr. Campbell, who added that the company is likely to have "more
unevenness in our performance from quarter to quarter than has been
typical of our business."
For the current quarter, Mr. Campbell said that
foreign-exchange-adjusted billings growth may decline modestly from
the second quarter. Revenue growth this quarter will be slower than
in the June period, when the card company reported $8.28 billion in
sales.
Write to Lisa Beilfuss at lisa.beilfuss@wsj.com
Subscribe to WSJ: http://online.wsj.com?mod=djnwires
(END) Dow Jones Newswires
September 18, 2015 12:25 ET (16:25 GMT)
Copyright (c) 2015 Dow Jones & Company, Inc.
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