American Express Co. Q2 Profit Retreats, but beats estimates

(RTTNews) - American Express Co. (AXP) released earnings for second quarter that decreased from the same period last year but beat the Street estimates.

The company's earnings came in at $1.96 billion, or $2.57 per share. This compares with $2.28 billion, or $2.80 per share, in last year's second quarter.

Analysts on average had expected the company to earn $2.41 per share, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company's revenue for the quarter rose 30.9% to $13.40 billion from $10.24 billion last year.

American Express Co. earnings at a glance (GAAP) :

-Earnings (Q2): $1.96 Bln. vs. $2.28 Bln. last year. -EPS (Q2): $2.57 vs. $2.80 last year. -Analyst Estimates: $2.41 -Revenue (Q2): $13.40 Bln vs. $10.24 Bln last year.