Shares of American Express Co. AXP, -2.01% fell more than 2% in the extended session Thursday after the credit card company reported mixed fourth-quarter results. American Express earned $2 billion, or $2.32 a share, in the quarter, versus a loss of $1.2 billion, or $1.42 a share, in the year-ago period. Revenue rose to $10.5 billion from $9.7 billion. Analysts polled by FactSet had expected earnings of $1.80 a share on sales of $10.6 billion. “We continue to see very good returns on the investments we’ve been making to gain share and add scale,” Chief Executive Stephen J. Squeri said in a statement. American Express’ growth in 2018 was “broad-based and well-balanced across geographies and business lines,” he said. Card members’ spending rose an adjusted 8%, driven by higher member spending, loans and card fees. The company added 12 million new cards last year. Shares of American Express ended the regular trading day up 0.1%.
American Express Co. shares fell $2.50 (-2.51%) in after-hours trading Thursday. Year-to-date, AXP has gained 4.80%, versus a 5.22% rise in the benchmark S&P 500 index during the same period.
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