American Express Company reaffirmed the company’s financial outlook for 2015, 2016 and 2017. For the full year, the AmEx 2015 EPS outlook remains unchanged, and expects EPS to be flat to modestly down.
AmEx says it believe the outlook to return to positive earnings per share growth in 2016 and within our target range of 12-15% in 2017 remains appropriate.
AmEx acknowledged it will likely have more unevenness in its performance from quarter to quarter than has been typical of our business.
Core underlying earnings performance this quarter will be generally consistent with the financial outlook framework.
Although after adjusting for FX, AmEx expects the billings growth rate this quarter to be in line with or modestly below what we saw in the second quarter. In addition, we expect revenue growth this quarter to be slower than the second quarter revenue growth rate, adjusting for FX and business travel.
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