American Express Co (AXP) released its first quarter results on Monday, April 26, 2021. The company reported net earnings of $2.74 per share for the first quarter ending March 31, 2021. Earnings for this past quarter were up 565 percent compared to the same period a year ago.
American Express Company was founded in 1850 and is headquartered in New York, New York. American Express Company, together with its subsidiaries, provides charge and credit payment card products, and travel-related services worldwide. The company operates through three segments: Global Consumer Services Group, Global Commercial Services, and Global Merchant and Network Services.
American Express's revenue decreased 23 percent over the past trailing twelve-month period versus the previous twelve-month period. Gross margins increased to 71.69% for the first quarter compared to the same period in the previous year, and operating margins decreased to 21.63% over the same period. Net earnings for past trailing twelve months were $4.9 billion, down 10% from the prior year.
Moving on to the balance sheet, American Express’s cash levels jumped 37% for the third quarter over the same period last year. The company decreased shares outstanding by 0.62%.
Shares of AXP are currently trading around $150.34. In terms of valuation, the stock is trading at a trailing twelve-month price to earnings ratio of 24.67 and price to book ratio of 5.27.
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This article was written by Value Investing News (https://www.valueinvestingnews.com) on Tuesday, April 27, 2021.