American Express Reaffirms Full-year Guidance

(RTTNews) - American Express Company (AXP) said the company's first quarter results were in line with its expectations for the full year. The company reaffirmed its full-year guidance of 18 to 20 percent revenue growth and earnings per share between $9.25 and $9.65. Analysts polled by Thomson Reuters expect the company to report profit per share of $9.71. Analysts' estimates typically exclude special items.

First quarter net income totaled $2.10 billion, or $2.73 per share compared to $2.24 billion, or $2.74 per share, prior year. Analysts on average had expected the company to earn $2.44 per share, according to figures compiled by Thomson Reuters.

First-quarter consolidated total revenues net of interest expense were $11.7 billion, up 29 percent from $9.1 billion a year ago. The company said the increase primarily reflected growth in Card Member spending growth of 35 percent globally on an FX-adjusted basis, with volumes reaching a monthly record high in March. Analysts on average had estimated $11.62 billion in revenue.