American Express in 1H17: What Investors Need to Know

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American Express in 1H17: What Investors Need to Know PART 1 OF 10

American Express’s Total Revenue Falls

Marginal decline

American Express (AXP) saw total revenue, net of interest expenses, of $16.2 billion in 1H17, compared with $16.3 billion in 1H16. The 1% fall was mainly due to the company’s other revenue being lower in 1H17 than 1H16.

American Express&#8217;s Total Revenue Falls

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In 1H16, American Express reported other revenue of $1.0 billion, and in 1H17, the company reported other revenue of $848 million, reflecting a substantial 18% fall. This fall was primarily due to revenue the company generated from its GNS (global network services) partner. In 1H16, American Express generated revenue of $342 million from its GNS partner, compared with $306 million in 1H17.

However, the company’s total non-interest revenue fell between 1H16 and 1H17. In 1H17, American Express saw total non-interest revenue of $13.2 billion, compared with $13.3 billion in 1H16.

Expected net income

American Express’s expected net income for September 2017 is $1.3 billion. Other consumer financial companies (XLF) expect the following:

  • Visa (V): $2.0 billion
  • MasterCard (MA): $1.3 billion
  • Discover Financial Services (DFS): $0.58 billion

In this series, we’ll study American Express’s divisions, valuation, total expenses, analyst ratings, net interest income, and asset balances.


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