American Express Slips Despite Profit Beat, Raised FY Projections

Key Takeaways American Express reported second-quarter profit above estimates Friday, with revenue and net interest income (NII) falling short. The company joined other banks that recently reported earnings in posting sequentially lower NII. Shares fell more than 4% soon after markets opened. American Express (AXP) reported larger profits than analysts had expected for the second quarter Friday, despite revenue and net interest income (NII) that fell short of estimates. The banking and credit card provider ...