American Express Company Announces Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2017; Provides Earnings Guidance for the Fiscal 2018
For the full year, the company reported total revenues net of interest expense was $33,471 million against $32,119 million a year ago. Net income was $2,736 million against income of $5,408 million a year ago. Net income attributable to common shareholders diluted per share was $2.97 against income of $5.65 a year ago. Excluding the impacts of the tax act, earnings per share were $5.87. Adjusted Total revenues net of interest expense was $33,471 million against $30,926 million a year ago.
For 2018, the company expects an effective U.S. tax rate of approximately 22% before discrete tax items. The company expects 2018 earnings per share to be between $6.90 and $7.30. The midpoint of that range would represent an approximate 20% increase from 2017 earnings per share, excluding the impacts of the tax act in 2017.