American Express’s (AXP) Global Merchant Services division witnessed an increase in its 2Q17 net income to $430 million, reflecting a rise of 15% from its 2Q16 net income.
The division’s total revenues stood at $1.2 billion, which was the same as its 2Q16 total revenues. Its 2Q16 revenues included a contribution from Costco (COST).
The division’s total expenses totaled $472 million in 2Q17 compared to $547 million in 2Q16, representing a 14% decline on a YoY basis. This decline resulted from lower marketing and operating expenses.
American Express’s (AXP) Global Merchant Services division’s 2Q17 marketing expenses stood at $37 million compared to $58 million in 2Q16. This trend reflects a 36% decline YoY. The division’s 2Q17 operating expenses reached $435 million compared to $489 million in 2Q16, reflecting an 11% fall on a YoY basis.
Amex’s Global Merchant Services division posted net interest income of $66 million in 2Q17 compared to $62 million in 2Q16. This trend reflects a 6% rise YoY.
Revenue per share
American Express’s (AXP) revenue per share on a trailing-12-month (or TTM) basis totaled $32.26, which is higher than its peers. The revenue per share readings on a TTM basis of the other major consumer financial companies (XLF) are as follows: