American Express Backs FY22 EPS View Below Market; Lifts Revenue Growth View - Update

(RTTNews) - While reporting weak earnings and higher revenues in its second quarter, American Express Co. (AXP) Friday maintained fiscal 2022 earnings view below market estimates, and raised revenue forecast.

In pre-market activity on the NYSE, the shares were gaining around 4 percent to trade at $156.01.

For the year, the company continues to expect earnings per share in the range of $9.25 to $9.65.

On average, 26 analysts polled by Thomson Reuters expect earnings of $9.83 per share for the year. Analysts' estimates typically exclude special items.

Full-year revenue growth is now expected in a range of 23 percent to 25 percent, higher than previously expected range of 18 percent to 20 percent.

Stephen Squeri, Chairman and Chief Executive Officer, said, "As we look ahead, we remain confident in our ability to successfully execute against our long-term growth plan aspirations."