American Express Says Confident To Be Within High End Range Of FY20 Earnings View In FY22

(RTTNews) - While announcing higher second-quarter profit and sales, integrated payments company American Express Co. (AXP) Friday said it is confident in its ability to be within the high end of the range of earnings per share expectations it had for 2020 in 2022. The outlook is based on the current trends.

In pre-market activity, American Express shares were gaining around 3.3 percent to trade at $176.50.

Stephen Squeri, Chairman and Chief Executive Officer, said, "As we look ahead, we are increasingly optimistic that the momentum we've generated will continue given the strength we see in our core business, particularly in the U.S., even as the pace of the recovery remains uneven in different regions around the world."

In its second quarter, profit climbed to $2.28 billion or $2.80 per share from last year's $0.26 billion, or $0.29 per share. The company's revenue for the quarter rose 33.3% to $10.24 billion from $7.68 billion last year.

Analysts had expected the company to earn $1.58 per share on revenues of $9.54 billion, according to figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.