American Express Company (Part of Warren Buffett Holdings) today reported fourth-quarter income from continuing operations of $238 million. It is down 72 percent from $858 million a year ago. Diluted earnings per share from continuing operations were $0.21, down 71 percent from $0.73 a year ago.
Net income for the quarter is $172 million, which is down 79 percent from a year ago.
Consolidated total revenues net of interest expense declined 11 percent to $6.5 billion, down from $7.3 billion a year ago.
Consolidated provisions are$1.4 billion compared to $1.5 billion in the year-ago period.
Consolidated expenses are 5 % up to $4.9 billion as compared to $4.7 billion a year ago.
The company's return on average equity (ROE) was 21.7 percent, down from approc 37 percent a year ago. The company continued to invest in the business, announcing a multiyear partnership with Delta Airlines this quarter and also expanded their global network business. In addition, successfully integrated the corporate card business that they purchased from General Electric.
As per Sep 08 shareholding Pattern of American Express, Warren Buffett's Berkshire Hathaway is holding 151,610,700 shares.
Net income for the quarter is $172 million, which is down 79 percent from a year ago.
Consolidated total revenues net of interest expense declined 11 percent to $6.5 billion, down from $7.3 billion a year ago.
Consolidated provisions are$1.4 billion compared to $1.5 billion in the year-ago period.
Consolidated expenses are 5 % up to $4.9 billion as compared to $4.7 billion a year ago.
The company's return on average equity (ROE) was 21.7 percent, down from approc 37 percent a year ago. The company continued to invest in the business, announcing a multiyear partnership with Delta Airlines this quarter and also expanded their global network business. In addition, successfully integrated the corporate card business that they purchased from General Electric.
As per Sep 08 shareholding Pattern of American Express, Warren Buffett's Berkshire Hathaway is holding 151,610,700 shares.
No comments:
Post a Comment