American Express (NYSE:AXP) Posts 47% Drop in Fiscal Fourth Quarter Net Income – AXP, DFS, COF, CASH

American Express Company (NYSE:AXP) reported on Thursday that net income moved down 47% in the fiscal Q4 as the credit card issuer racked up costs linked with revamping and other outlays. The New York based bank’s adjusted earnings surpass Wall Street forecasts.

The company reported that net income plunged to $637 million or 56 cents a share for the three months period finished Dec 31. That evaluated against net income of $1.2 billion or $1.01 a share in the similar quarter a year ago.

Blue chip financial component reported that revenue in the most recent three months period hiked 5% to $8.14 billion. Spending by AXP cardholders moved up 8%.

Shifting reader’s focus to broader market, let us consider market performance of other stocks that significantly affect same sector. Discover Financial Services (NYSE:DFS) rose +0.41% to settle at $39.29, Capital One Financial Corp. (NYSE:COF) moved down -0.26% to end at $61.59 while Meta Financial Group Inc. (NASDAQ:CASH) jumped +2.79% to finish at $23.58 on Thursday.

American Express Company (NYSE:AXP) last session’s volume of 4.69 million shares was lower than its average volume of 5.36 million shares. The stock after opening at $61.10 hit high price of $61.20 and then closed at $60.74 by scoring +0.20%.

AXP generated revenue of $33.44 billion in the previous twelve months and earned $4.98 billion. The Company showed a positive 15.06% in the net profit margin as well as in its operating margin which remained at 21.74%. Company’s annual sales growth for the past five years was 3.11%.

The AXP’s past twelve months’ price to sales ratio was 2.03 and price to cash ratio remained 17.81. As far as the returns are concerned, AXP’s return on equity was recorded as 26.51% and return on investment increased 3.73% while its return on asset stayed at 3.34%.

The stock showed weekly downbeat performance of -0.08% which was maintained for the month at 6.43%. Likewise the positive performance for the quarter was recorded as 5.84% and for the year was 22.63% while the YTD performance remained at 6.04%.

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