An American Express credit card is seen on a computer keyboard in this picture illustration taken September 6, 2017. REUTERS/Philippe Wojazer
(Reuters) – American Express Co (AXP.N) reported a fourth-quarter profit compared to a loss in the same quarter a year ago, when the company took a charge of $2.6 billion due to a change in U.S. tax laws.
The credit-card issuer said reut.rs/2RyxpFO on Thursday net income was $2.01 billion in the three months ended Dec. 31, compared with a loss of $1.21 billion a year earlier. On a per-share basis, AmEx earned $2.32, compared with a loss of $1.42 in the prior-year quarter.
Revenue, net of interest expense, rose 7.9 percent to $10.47 billion.
Reporting by Diptendu Lahiri in Bengaluru; Editing by Maju Samuel
Latest posts by Editor (see all)
- Trump sends support to anti-abortion activists at March for Life - January 18, 2019
- Michio Kaku: To Aliens, Humans Aren’t Much More than ‘Forest Animals’ - January 18, 2019
- U.S. consumer morale at two-year low; factory output surges - January 18, 2019