American Express Company (NYSE: AXP) reported fourth-quarter 2020 earnings results today.
Consolidated revenues, net of interest expense, declined 18% to $9.3 billion, The quarter primarily reflected declines in Card Member spending and the average discount rate compared to the prior year.
Net income dropped 15% to $1.4 billion, or $1.76 per share, compared to last year.
Total provisions for credit losses came down to negative $111 million from $1.02 billion last year.