American Express Co
AXP: XNYS (USA)
Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
---|---|---|---|
$132.00 | Rwxw | Qrfdxhfvs |
American Express Earnings: Interest Income Drives Continued Rapid Earnings Growth
Wide-moat American Express reported strong first-quarter earnings as it benefited from impressive net interest income growth and well-controlled expenses. Net revenue increased 11% from last year to $15.8 billion, while earnings per share increased 39% to $3.33. These results translate to a return on average equity of 33.4%. As we incorporate these results, we do not plan to materially alter our $190 fair value estimate.