AmEx forecasts stronger earnings even as it builds bigger provisions

AmEx forecasts stronger earnings even as it builds bigger provisions

Oct 21 (Reuters) – American Express Co (AXP.N) on Friday forecasts its full-year profit to be higher than initially expected, but built bigger provisions to prepare for potential defaults as an economic downturn looms, sending its shares down 4% before the bell. Despite aggressive rate hikes by the US Federal Reserve to curb soaring inflation … Read more

Visa profit sails past estimates on resilient consumer demand

Visa profit sails past estimates on resilient consumer demand

A credit card is seen in front of a displayed Visa logo in this illustration taken July 15, 2021. REUTERS/Dado Ruvic/Illustration GLOBAL BUSINESS WEEK AHEAD Register now for FREE unlimited access to Reuters.com Register July 26 (Reuters) – Visa Inc (VN) beat estimates for quarterly profit on Tuesday as resilience in consumer spending so far … Read more