American Express (AXP) is expected to report Q2 earnings after the market close on Thursday, July 22 with a conference call scheduled for 5 pm ET.
The consensus estimate is 78c for EPS and $6.84B for revenue, according to First Call. The consensus range is 67c-91c for EPS, and $6.58B-$7.04B for revenue. American Express (AXP) reported earlier this month that its write-off rate came in at 5.7% in June, down from 6.3% in May. The percentage of the company's loans that were past due in June fell to 2.7% from 2.9% in May. Meanwhile, Bank of America (BAC) reported last week that its credit purchase volume increased 4% year-over-year and 1% quarter-over-quarter in Q2. On the other hand, Citigroup (C) said that its Citi-branded credit purchase volume dropped 7% year-over-year in Q2, but it added that the purchase volume did increase 9% on a quarter-over-quarter basis.
On July 14, Morgan Stanley removed American Express as a long research tactical idea, but maintained an Overweight rating on the stock.