January 18, 2018 / 9:23 PM / 6 months ago

BRIEF-American Express Reports Q4 EPS Of $1.58 Excluding Items

Jan 18 (Reuters) - American Express Co:

* AMERICAN EXPRESS REPORTS QUARTERLY REVENUES UP 10 PERCENT WITH RECORD CARD MEMBER SPENDING

* Q4 LOSS PER SHARE $1.41

* Q4 EARNINGS PER SHARE VIEW $1.54 — THOMSON REUTERS I/B/E/S

* Q4 EARNINGS PER SHARE $1.58 EXCLUDING ITEMS

* - SEES 2018 EARNINGS PER SHARE OF $6.90 TO $7.30

* QTRLY CONSOLIDATED EXPENSES WERE $6.2 BILLION, DOWN 1 PERCENT FROM A YEAR AGO

* - U.S. CONSUMER SERVICES REPORTED FOURTH-QUARTER NET INCOME OF $507 MILLION, UP 44 PERCENT FROM $351 MILLION A YEAR AGO

* - QTRLY TOTAL REVENUES NET OF INTEREST EXPENSE $8.84 BILLION VERSUS $8.02 BILLION

* - INTERNATIONAL CONSUMER AND NETWORK SERVICES REPORTED FOURTH-QUARTER NET INCOME OF $199 MILLION, UP FROM $84 MILLION A YEAR AGO

* - QTRLY CONSOLIDATED PROVISIONS FOR LOSSES WERE $833 MILLION, UP 33 PERCENT FROM $625 MILLION A YEAR AGO

* - “PLAN TO SUSPEND OUR SHARE BUYBACK PROGRAM FOR FIRST HALF OF 2018 IN ORDER TO REBUILD OUR CAPITAL”

* - NOW EXPECT TO INVEST UP TO $200 MILLION MORE IN 2018 THAN ORIGINALLY PLANNED FOR CUSTOMER-FACING GROWTH INITIATIVES

* - “OVERALL, WE BELIEVE TAX ACT WILL BE A POSITIVE DEVELOPMENT FOR BOTH U.S. ECONOMY AND AMERICAN EXPRESS”

* AMERICAN EXPRESS - MIDPOINT OF 2018 EPS OUTLOOK RANGE WOULD REPRESENT ABOUT 20 PERCENT INCREASE FROM 2017 EPS, EXCLUDING IMPACTS OF TAX ACT 2017

* FY2018 EARNINGS PER SHARE VIEW $7.04 — THOMSON REUTERS I/B/E/S

* - FOR 2018, COMPANY EXPECTS AN EFFECTIVE U.S. TAX RATE OF APPROXIMATELY 22 PERCENT BEFORE DISCRETE TAX ITEMS Source text for Eikon: Further company coverage:

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