American Express 3Q results miss estimates
NEW YORK – American Express reported a 16 percent drop in profits from a year earlier, missing analysts’ estimates, as the credit card company was hurt by higher expenses and remains under pressure from the strong U.S. dollar. The company also cut its full-year forecast.
AmEx said Wednesday that it had net income attributable to common shareholders of $1.23 billion, down from $1.466 billion in the same period a year earlier.