American Express Co. Q3 Profit Falls 16%

(RTTNews) - American Express Co. (AXP) announced earnings for third quarter that declined from last year.

The company said its bottom line fell to $1.23 billion, or $1.24 per share. This was lower than $1.47 billion, or $1.40 per share, in last year's third quarter.

Analysts had expected the company to earn $1.31 per share, according figures compiled by Thomson Reuters. Analysts' estimates typically exclude special items.

The company said revenue for the quarter fell 1.3% to $8.19 billion. This was down from $8.30 billion last year.

American Express Co. earnings at a glance:

-Earnings (Q3): $1.23 Bln. vs. $1.47 Bln. last year. -Earnings Decline (Y-o-Y): -16.3% -EPS (Q3): $1.24 vs. $1.40 last year. -EPS Decline (Y-o-Y): -11.4% -Analysts Estimate: $1.31 -Revenue (Q3): $8.19 Bln vs. $8.30 Bln last year. -Revenue Change (Y-o-Y): -1.3%

-Guidance: Full year EPS guidance: $5.20 - $5.35