Vladimír Urbánek (Kurzy.cz)
World markets  |  January 18, 2013 12:09:28

American Express Profit in 4Q12 decreased by 42%, the company released 5400 employees


Net income from American Express, a leading U.S. and global provider of loans and credit cards, Q4 yoy last year fell by 42% to 637 mill.USD.
Net income for the full year 2012 decreased by 9% to 4.48 mld.USD.

The decrease is mainly due to the lower profit on domestic U.S. operations, which decreased to 423 mill.USD compared to 727 in 4Q11.

Total revenue grew by 5.2% to 8.14 mld.USD. Operating expenses for the full year 2012 increased by 12% to 12 mld.USD

The company set aside in 4Q total of 637 mill.USD to cover future losses, which represents an annual growth of 56%.
Travel commissions and fees decreased by 2% to 503 mill.USD the decline in sales by 1%.
Division of international card transactions showed a reduction in income of 38% to 95 mill.USD.

Management of the company last week said it plans to lay off about 5,400 employees and 8.5% respectively in an effort to reduce costs.

AmEx shares you this year to yesterday's conclusion attributed to appreciation of 5.7%. Last year degree grew by 22%.
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Zisk American Express ve 4Q12 poklesl o 42%, firma propustí 5400 zaměstnanců

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