Company news: American Express (AXP) quarterly results miss analysts’ expectations

American Express (AXP) reported Q4 FY2023 earnings of $2.62 per share (versus $2.07 per share in Q4 FY2022), missing analysts’ consensus estimate of $2.64 per share.

The company’s quarterly revenues amounted to $15.799 bln (+11.4% y/y), missing analysts’ consensus estimate of $16.003 bln.

The company also issued guidance for FY2024, seeing EPS of $12.65-13.15 versus analysts’ consensus estimate of $12.38 and revenue growth of 9-11%, which translates to ~$65.96-67.17 bln versus analysts’ consensus estimate of $66.27 bln.

In addition, the company said it plans to increase the regular quarterly dividend on its common shares outstanding by 16.7 per cent, from $0.60 to $0.70 per share, beginning with the first quarter 2024 dividend declaration.

AXP rose to $194.00 (+3.15%) in pre-market trading.