American Express Company，NYSE: AXP) released its fourth quarter and 188bet sports betting app download for 2016 on January 20, 2017 Beijing time。Financial report display，The company’s diluted earnings per share (EPS) in the fourth quarter was 0.USD 88，Compared to 0 in the same period last year. down 1%。Excludes certain one-time items，Adjusted earnings per share for the quarter was 0.USD 91。Net profit in the fourth quarter was 8.USD 2.5 billion，Compared to 8 in the same period last year.US.9 billion, down 8%。In addition，American Express fourth quarter revenue of 80.USD 2.2 billion，83 compared with the same period last year.US.1 billion, down 4%。

As of closing on January 19th，American Express shares fell 0 in regular trading on the New York Stock Exchange.USD 80，Close at 76.USD 69，Decreased by 1.03%，Earnings per share is 5.USD 65，The total market value is 701.USD 8.9 188bet sports betting app download。

Financial 188bet sports betting app download Overview

Investing heavily in promoting growth this quarter，Mainly due to higher marketing and promotion expenses。At the same time，The company has made steady progress towards its goal of reducing fixed costs by 1 188bet sports betting app download，Credit asset quality remains good，The company invests large sums of money to distribute dividends to shareholders and buy back shares。

Financial report display，American Express fourth-quarter consolidated revenue after interest expense was 188bet sports betting app download，Decreased 4% from US.4 188bet sports betting app download in the same period last year。But if the impact of Costco-related revenue and exchange rate in the same period last year is not included，Adjusted revenue after interest expense increased 6%，Mainly due to the increase in adjusted credit card membership expenses and net interest income。

Consolidated loss reserve for the fourth quarter is 6.USD 2.5 188bet sports betting app download，5 compared with the same period last year.US.2 188bet sports betting app download, up 9%，Mainly due to the rapid growth of loans。Year-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 20%，Mainly due to the rapid growth of loans、Loan delinquency growth and net bad debt ratio are high。

Fourth quarter consolidated operating expenses of .2 188bet sports betting app download，Decreased 2% from US.4 188bet sports betting app download in the same period last year。The operating expenses in the financial report for the same period last year include goodwill impairment and restructuring costs4..9 188bet sports betting app download (after tax) and incentive costs related to Costco business。Expenses for the quarter primarily include the previously mentioned restructuring charges of million ( million after tax) and high levels of investments for growth。

American Express’s effective tax rate in the fourth quarter was 29%，38% in the same period last 188bet sports betting app download。

American Express’ average return on equity (ROE) in the fourth quarter was 26%，24% in the same period last 188bet sports betting app download。

At the same time，Financial report display，American Express’s 188bet sports betting app download in 2016 was US.4 billion，An increase of 5% compared with 5.2 billion in the same period last year。Diluted earnings per share (EPS) is 5.USD 65，Diluted EPS for the same period last year was 5.USD 05。Excluding restructuring charges related to cost reduction，Adjusted diluted EPS is 5.USD 93。The 188bet sports betting app download result is within the company’s expected range for 2016。

Full-year revenue after interest expense was .1 188bet sports betting app download，This figure was US.8 188bet sports betting app download in the same period last year。Excluding the impact of Costco-related business and exchange rate，Adjusted revenue after interest expense increased 5% year-on-year。In addition，Consolidated expenses decreased by 4% for the full year of 2016，From .9 188bet sports betting app download in 2015 to 188bet sports betting app download in 2016。

Summary of the Board of Directors and CEO

Kenneth Chenault, Chairman and CEO of American Express, said: "Early 2016，We have stated that changing the trajectory of our business is a priority，The financial results released today demonstrate significant progress in this regard。Revenue further strengthened，Adjusted revenue achieved 188bet sports betting app download-on-188bet sports betting app download growth。We are ahead of schedule in reducing fixed costs and improving operational efficiency。We are increasing investment this quarter，Seize market opportunities，Further enhance competitiveness。”

“Earnings per share in 2016 were well above the target we set at the beginning of the 188bet sports betting app download，In line with our revised outlook last quarter。Our underlying business is performing well，Allows us to enhance our marketing and promotional programs，The purpose of these plans is to improve the company's short-term、Medium and long term gains。”

“Card member spending (excluding Costco business and foreign exchange impact) increased 7% in the fourth quarter，Mainly because of the obvious advantages in the international market，The rapid increase of small and medium-sized enterprise customers and the close relationship with high-spending customers。Our lending portfolio continues to grow faster than market expectations，At the same time, it maintains a leading position in various credit card indicators in the industry。We purchased over 10 million new credit cards globally last 188bet sports betting app download，More than 1 million new merchants in the United States alone。”

“We continue to operate our business in an extremely challenging environment，The market position at the end of last 188bet sports betting app download was further consolidated compared with the beginning of the 188bet sports betting app download，And each business continues to maintain growth momentum。Although there is still a lot of work to be done，But in view of the current progress，We expect 2017 earnings per share to be at 5.6-5.between 8。This forecast is premised on the completion of a series of priorities that will position American Express to continue its leadership position into the future。”

*Author of this article: Li Haiqiang (personal WeChat: lhq434849653)，188bet sports betting app download Tourism Analyst，Welcome to break the news、Welcome to communicate！