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American Express Q3 Profit Beats View on Higher Revenue (AXP)

By Dividend.com,  October 20, 2011, 08:26:42 AM EDT

Credit card issuer American Express Company ( AXP ) late Wednesday posted third quarter earnings results that beat analyst expectations, driven by an uptick in revenue.

The New York-based company reported third quarter net income of $1.24 billion, or $1.03 per share, compared with $1.09 billion, or 90 cents per share, in the year-ago period.

Revenue rose nearly 9% from last year to $7.6 billion.

On average, Wall Street analysts expected a smaller profit of 96 cents per share.

American Express shares fell 60 cents, or -1.3%, in premarket trading Thursday.

The Bottom Line
Shares of American Express ( AXP ) have a 1.56% dividend yield, based on last night's closing stock price of $46.13. The stock has technical support in the $42-$44 price area. If the shares can firm up, we see overhead resistance around the $50 price level.

American Express Company ( AXP ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Stocks

Referenced Stocks: AXP



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