AmEx Slips as Revenue Disappoints

[Stocks-to-Watch]

American Express (AXP) posted better than expected fourth quarter earnings but revenue disappointed the Street and shares were trading about 3% lower after hours.

AmEx posted $1.01 on EPS, 2 cents better than expectations. revenue came in at $7.74 billion, against expectations for $7.92 billion. Cardmember spending hit record levels, and billed business rose 11%, the company said. The company’s sounded somewhat cautious about 2012.

“The overall recovery in the U.S. remains uneven and the environment in Europe continues to pose challenges for the global economy. But, we start 2012 from a position of strength and with a unique network that connects millions of consumers, merchants and businesses around the world,” said CEO Ken Chenault.



Original Article Source by Barrons.com