American Express Company is a multinational banking and financial services company based in New York City, USA.
The company focuses on providing payment, travel, and expense management solutions for individuals and businesses of all sizes.
It is currently the world’s largest card issuer by purchase volume in addition to operating the world’s largest travel network, processing millions of transactions on a daily basis as the “premium network for high-spending card-members”.
American Express started out as an express mail business in 1850.
The company was founded as a joint-stock corporation following a merger of the express companies owned by William G. Fargo, Henry Wells, and John Warren Butterfield. In 1882 American Express expanded its financial services segment with its money order business.
Overview
- Chairman and CEO: Kenneth Chenault
- Industry: Banking, financial services
- Type: Public
- Listed on the New York Stock Exchange
- NYSE stock symbol: AXP
- S&P 500 Component
- Dow Jones Industrial Average Component
- Revenue: $34.292 billion USD (2014)
- Net income: $5,885 million USD (2014)
- Diluted earnings per share: $5.56 USD (2014)
- Founded: 1850
- Founders: Henry Wells, William Fargo, and John Warren Butterfield
- Headquarters: 200 Vesey Street, New York City, New York 10285, USA
- Employees: 54,000 (2014)
- Website: https://www.americanexpress.com
- Investor relations contact number: 212-640-2000
- Investor relations email: [email protected]
American Express Company Financial Results, Years Ended December 31
| Income data (in millions of USD) | 2014 | 2013 |
| Non-interest revenue | $28,820 | $27,927 |
| Interest income | $7,179 | $7,005 |
| Interest expense | $1,707 | $1,958 |
| Net interest income | $5,472 | $5,047 |
| Revenues net of interest expense | $34,292 | $32,974 |
| Revenues net of interest expense after provisions for losses | $32,248 | $31,142 |
| Total expenses | $23,257 | $23,254 |
| Net income | $5,885 | $5,359 |
| Comprehensive income | $5,392 | $4,860 |
| Balance sheet data (in $ millions) | ||
| Total assets | $159,103 | $153,375 |
| Total liabilities | $138,430 | $133,879 |
| Total shareholders’ equity | $20,673 | $19,496 |
| Common share data (in $) | ||
| Basic earnings (loss) per share | $5.58 | $4.91 |
| Diluted earnings (loss) per share | $5.56 | $4.88 |
| Cash flow data (in $ millions) | ||
| Net cash provided by operating activities | $10,990 | $8,547 |
| Net cash provided by investing activities | $(7,967) | $(7,269) |
| Net cash provided by (used in) financing activities | $11 | $(3,891) |
| Cash and cash equivalents at beginning of year | $19,486 | $22,250 |
| Cash and cash equivalents at end of year | $22,288 | $19,486 |
Source: “American Express Company Form 10-K 2014”