American Express (AXP) had a nice enough quarter. But, it was not stellar and the stock did not get out of hand after hours.
Revenue net of interest expense rose 11% to $6.945 billion. Net income was up 10% to $1.067 billion.
The market thought that was fine. The stock traded up a fraction at $56.90, not far from its 52-week low of $53.91. Wall St. still believes that the consumer is marching toward the grave.
Douglas A. McIntyre
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