American Express Co. Announces 16% Drop In Q4 Profit

(RTTNews) - American Express Co. (AXP) reported a profit for fourth quarter that fell compared to the same period last year.

The company said its earnings dropped to $1.21 billion, or $1.23 per share. This was down from $1.44 billion, or $1.39 per share, in last year's fourth quarter.

The company said revenue for the quarter fell 7.6% to $8.39 billion. This was down from $9.08 billion last year.

American Express Co. earnings at a glance:

-Earnings (Q4): $1.21 Bln. vs. $1.44 Bln. last year. -Earnings Decline (Y-o-Y): -16.0% -EPS (Q4): $1.23 vs. $1.39 last year. -EPS Decline (Y-o-Y): -11.5% -Revenue (Q4): $8.39 Bln vs. $9.08 Bln last year. -Revenue Change (Y-o-Y): -7.6%

-Guidance: Full year EPS guidance: $5.40 - $5.70