American Express Stock Drops After Revenue Undershoots Estimates

American Express Stock Drops After Revenue Undershoots Estimates·The Wall Street Journal
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American Express shares pared losses Friday after the credit-card company's quarterly revenue missed Wall Street estimates. Amex shares, which had risen about 52% this year through Thursday, fell about 2.9% in afternoon trading after being down as much as 5.9% earlier in the day. Amex touted higher net interest income, due to growing loan volumes, stable growth in card-member spending and faster growth in revenue from card fees.

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