Categories AlphaGraphs, Earnings, Finance

AXP Earnings: All you need to know about American Express Q2 2020 earnings results

American Express Company (NYSE:AXP) reported second quarter 2020 earnings results today.

Total revenues dropped 29% year-over-year to $7.6 billion, mainly due to a decline in Card Member spending and a lower average discount rate.  

Net income fell 85% to $257 million and EPS declined 86% to $0.29.

Consolidated provisions for losses were $1.6 billion, up from $861 million a year ago, due to a reserve build of $628 million.

Past Performance

Click here to read the transcript for American Express Q2 2020 earnings conference call

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