American Express Company，NYSE: AXP) released its third quarter financial report for 2016 on October 20, Beijing time。Financial report display，The company’s diluted earnings per share (EPS) in the third quarter was 1.，1 compared with the same period last 188bet sports betting. down 3%。Excludes certain one-time items，Adjusted earnings per share for the quarter was 1.USD 24，Same as the same period last 188bet sports betting，But exceeded analysts’ previous expectations。Third quarter revenue is 77.USD 700 million，Down from 81 in the same period last 188bet sports bettingUSD 900 million，But it also exceeded analysts’ expectations。Financial information provider FactSet survey shows，Analysts on average expected American Express to post adjusted earnings per share of 0 for the quarter.USD 97，Revenue is 77.USD 100 million。

American Express shares rose 1 in regular trading on the New York Stock Exchange on the 19th.USD 17，Close at 61.USD 25，Increase is 1.95%。188bet sports betting subsequent after-hours trading as of 10:27 US Eastern Time on October 20 (22:27 Beijing time on the 20th)，The stock rose again 5.USD 43，to 66.USD 68，Increase of 8.87%。

188bet sports betting Overview

Investing heavily in promoting growth this quarter，Mainly due to higher marketing and promotional expenses。simultaneously，The company is making steady progress in cutting fixed costs，Credit asset quality remains good，The company invests large sums of money to distribute dividends to shareholders and buy back shares。188bet sports betting-ago results include business related to co-branded Costco，At the beginning of this 188bet sports betting, American Express announced that it would terminate its partnership with Costco。

Financial report display，American Express’ third-quarter consolidated revenue after interest expense was 77.USD 400 million，81 compared to the same period last 188bet sports bettingUS0 million down 5%。But if the impact of Costco-related revenue in the same period last 188bet sports betting is not included，Adjusted revenue growth 5%，Mainly due to the increase in member spending、Increase in net interest income and increase in net card fee income。

Consolidated loss reserve for the third quarter is 5.USD 0.4 billion，5 compared with the same period last 188bet sports bettingUSD 2.9 billion, down 5%。188bet sports betting-ago financial results include credit card costs related to the co-branded loan portfolio，Selling this portion of the portfolio this quarter。Network impact of co-branded loan portfolio，Adjusted loss reserves increased by 6%，Mainly because of the rapid growth of loans。

Consolidated operating expenses for the third quarter were .5 billion，Decreased 3% from US.7 billion in the same period last 188bet sports betting。Operating expenses in the same period last 188bet sports betting include incentive costs related to Costco business、Goodwill impairment and technology assets。Expenses for the quarter primarily include previously mentioned restructuring charges and high levels of investments for growth。Operating expenses decreased by 3% 188bet sports betting-on-188bet sports betting。

Effective tax rate for the third quarter was 34%，Decreased by 1% compared with 35% in the same period last 188bet sports betting。

The company’s average return on equity (ROE) in the third quarter was 26%，Decreased 1% from 27% last 188bet sports betting。

Board of Directors and CEO 188bet sports betting Summary

Kenneth Chenault, Chairman and CEO of American Express, said: "Due to good operating management and credit asset quality this quarter，American Express' performance exceeded the company's financial expectations announced at the beginning of the 188bet sports betting。”

“Although revenue fell by 5%，But after deducting the impact of Costco-related business in this quarter，Adjusted actual revenue growth 5%，Increase compared with the same period last 188bet sports betting。Adjusted commercial card business increased by 7% 188bet sports betting-on-188bet sports betting，Adjusted borrowing growth remains healthy，Net card fee income increased by 10%，The main reason is the strong growth momentum of business package cards。”

“Good performance shows that the company’s business is extensive，Business model diversification achieves success，It also shows that the company has maintained a good relationship with credit card members for many years，At the 188bet sports betting time, members also pay great attention to the preferential services provided by the company。As the company’s consumer card business maintains good growth momentum，International business maintains growth，Has a strong merchant network and wide coverage among small and medium-sized enterprises，This, to a certain extent, makes up for the shortcomings of insufficient consumption by large corporate customers。”

"Looking to the future，The company will continue to prioritize three aspects: accelerating revenue growth、Replan fixed costs and optimize investment business。The company is promoting the new Platinum Card investment portfolio，Provide quality services to customers。On Small Business Saturday，On the basis of the first Saturday after Thanksgiving)，The company is also launching the most extensive event，Promote consumption in neighborhood businesses，Expand the company’s merchant network in the United States。Also，The company continues to use digital marketing capabilities，This 188bet sports betting’s goal is for the company to sell 5.9 million new cards to corporate customers in the United States，8.5 million new cards issued globally。These activities plus the upcoming shopping festival activities，The company will carry out vigorous advertising to ensure good results in the fourth quarter。”

Chenault said，"Except operating 188bet sports betting results，We also received a ruling from the U.S. Department of Justice in favor of American Express regarding anti-competitive aspects。This is completely different from the previous judgment of the lower court，The appeal judge upheld our agreement with the merchant，These agreements help protect consumers’ right to choose，Support market competition，Allows us to provide customers with high-quality products and services。”

“The financial results so far this 188bet sports betting give us greater confidence to further increase investment in the final quarter of the 188bet sports betting，simultaneously，We are also confident to increase the company's full-188bet sports betting earnings in 2016。Although more efforts are needed in the future，There are more challenges，But our investment must be beneficial to the company’s profitability and sustainable development in the long term。We remain confident of achieving at least 5 per share in 2017. profit。”

GAAP，Includes restructuring charges for the first three quarters of 2016，The company currently expects earnings per share in 2016 to be 5. and 5.Between 75 188bet sports betting。Not including restructuring costs，Adjusted earnings per share expected to be 5. to 6.between 00 188bet sports betting。This figure is higher than the high end of the company's previously expected adjusted earnings per share (5.4-5.188bet sports betting 70) Still high。

Financial indicators of each 188bet sports betting segment in the third quarter

1. U.S. consumer card service 188bet sports betting

Financial report display，U.S. consumer card service business third quarter net profit was 4.US>305_word_end<.1 billion，5 compared with the same period last 188bet sports betting4.2 billion down 26%。The financial report for the same period last 188bet sports betting includes revenue from business related to partner Costco、Loss reserves and expenses。

Total revenue after interest expense is .9 billion，Decreased 13% from US.3 billion in the same period last 188bet sports betting。

The total loss reserve is 2.USD 7.5 billion，2 compared with the same period last 188bet sports betting..4 billion down 6%。

Total cost billion，Down 7% from .2 billion in the same period last 188bet sports betting。The financial report for the same period last 188bet sports betting includes incentive costs for business related to partner Costco，No more costs for this quarter，But this quarter, we will invest more in promoting growth。

The effective tax rate for this part of the business is 35%，Decreased 2% from 37% in the same period last 188bet sports betting。

2. International consumer card and network service 188bet sports betting

Financial report display，The third quarter net profit of International Credit Card and Internet Services Business was 1.US.5 billion，1 compared to last 188bet sports bettingUS.4 billion, up 1%。

Total revenue after interest expense is .4 billion，An increase of 5% compared with US.3 billion in the same period last 188bet sports betting (an increase of 7% after excluding exchange rate effects)，The main reason for the revenue growth was the increase in member spending and the increase in net card fee income。

Total loss reserves are million，An increase of 9% from US million in the same period last 188bet sports betting。

Total cost .1 billion，An increase of 5% compared with US billion in the same period last 188bet sports betting (an increase of 7% after deducting the impact of exchange rate)。The increase in expenses is mainly due to increased investment in promoting growth。

The effective tax rate for this part of the business is 25%，Increased 2% from 23% in the same period last 188bet sports betting。

3. Global enterprise services 188bet sports betting

Financial report display，Global enterprise services business third quarter net profit was 4.USD 6.6 billion，Same as the same period last 188bet sports betting，Remain unchanged。The financial report for the same period last 188bet sports betting includes revenue from business related to partner Costco、Loss reserves and expenses。

Total revenue after interest expense is .4 billion，Same as the same period last 188bet sports betting，Remain unchanged。The financial report for the same period last 188bet sports betting includes revenue from business related to partner Costco，No more revenue for this quarter，But this quarter, we will invest more in promoting growth，And the net card fee income increased。

The total loss reserve is 1.US.4 billion，1 compared with the same period last 188bet sports betting..8 billion, down 9%。

Total cost .6 billion，Up 1% from US.5 billion in the same period last 188bet sports betting，The increase in expenses is mainly due to increased investment in promoting growth。

The effective tax rate for this part of the business is 36%，Decreased 1% from 37% last 188bet sports betting。

4. Global merchant service 188bet sports betting

Financial report display，Global merchant services business third quarter net profit was 3.US.9 billion，3 compared with the same period last 188bet sports bettingUSD 9.7 billion, down 10%。The financial report for the same period last 188bet sports betting includes revenue from business related to partner Costco。

Total revenue after interest expense is .1 billion，Decreased 6% from US.2 billion in the same period last 188bet sports betting。

The total cost is 5.USD 2.5 billion，Same as the same period last 188bet sports betting，Remain unchanged。Benefited greatly from a successful appeal in a case。

The effective tax rate for this part of the business is 37%，Same as the same period last 188bet sports betting，Remain unchanged。

Also，American Express third quarter financial report shows，Enterprise and other business net loss 2.US billion，And the net loss in the same period last 188bet sports betting was 2.US.5 billion。

*Author of this article: Li Haiqiang (personal WeChat: lhq434849653)，Coached Analyst，Welcome to follow and communicate！

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