American Express beats by $0.35, reports revs in-line (149.62)
- Reports Q3 (Sep) earnings of $3.30 per share, $0.35 better than the FactSet Consensus of $2.95; revenues rose 13.5% year/year to $15.38 bln vs the $15.36 bln FactSet Consensus.
- Credit metrics remained strong in the current quarter, with net write-off and delinquency rates for total Card Member loans and receivables below pre-pandemic levels. Consolidated provisions for credit losses were $1.2 billion, compared with $778 million a year ago. The increase reflected higher net write-offs, partially offset by a lower net reserve build of $321 million, compared with a reserve build of $387 million a year ago.