American Express Company
Financial Summary
(Unaudited)
(Dollars in millions)
Quarter Ended
June 30,
Percentage
1999 1998 Inc/(Dec)
Net Revenues by Segment (A)
Travel Related Services $3,678 $3,270 12.5%
American Express Financial
Advisors 916 807 13.6
American Express Bank/
Travelers Cheque 259 251 3.0
4,853 4,328 12.1
Corporate and Other,
including adjustments
and eliminations (33) (42) 21.9
CONSOLIDATED NET REVENUES (A) $4,820 $4,286 12.5
Pretax Income by Segment
Travel Related Services $628 $546 15.0
American Express Financial
Advisors 353 309 14.2
American Express Bank/
Travelers Cheque 6 23 (73.9)
987 878 12.4
Corporate and Other (92) (78) (17.1)
PRETAX INCOME $895 $800 11.9
Net Income by Segment
Travel Related Services $411 $360 14.0
American Express Financial
Advisors 242 212 14.2
American Express Bank/
Travelers Cheque 38 47 (18.1)
691 619 11.7
Corporate and Other (45) (41) (9.4)
NET INCOME $646 $578 11.8
Six Months Ended
June 30,
Percentage
1999 1998 Inc/(Dec)
Net Revenues by Segment (A)
Travel Related Services $7,099 $6,353 11.7 %
American Express Financial
Advisors 1,802 1,541 16.9
American Express Bank/
Travelers Cheque 506 508 (0.6)
9,407 8,402 12.0
Corporate and Other,
including adjustments and
eliminations (75) (82) 8.5
CONSOLIDATED NET REVENUES (A) $9,332 $8,320 12.2
Pretax Income by Segment
Travel Related Services $1,182 $1,028 15.0
American Express Financial
Advisors 665 580 14.5
American Express Bank/
Travelers Cheque 18 (151) --
1,865 1,457 28.0
Corporate and Other (178) (44) #
PRETAX INCOME $1,687 $1,413 19.4
Net Income by Segment
Travel Related Services $774 $676 14.5
American Express Financial
Advisors 456 398 14.5
American Express Bank/
Travelers Cheque 79 (36) --
1,309 1,038 26.1
Corporate and Other (88) (1) #
NET INCOME $1,221 $1,037 17.7
# Denotes variance of more than 100%.
(A) Net revenues are reported net of interest expense, where applicable,
and American Express Financial Advisors' provision for losses and
benefits.
American Express Company
Financial Summary (continued)
(Unaudited)
Quarter Ended
June 30,
Percentage
1999 1998 Inc/(Dec)
EARNINGS PER SHARE
Basic
Earnings Per Common Share $1.44 $1.27 13.4%
Average common shares
outstanding (millions) 447.4 456.3 (2.0)
Diluted
Earnings Per Common Share $1.41 $1.24 13.7
Average common shares
outstanding (millions) 457.1 465.3 (1.8)
Cash dividends declared per
common share $0.225 $0.225 --
Six Months Ended
June 30,
Percentage
1999 1998 Inc/(Dec)
EARNINGS PER SHARE
Basic
Earnings Per Common Share $2.73 $2.26 20.8 %
Average common shares
outstanding (millions) 447.5 458.4 (2.4)
Diluted
Earnings Per Common Share $2.67 $2.22 20.3
Average common shares
outstanding (millions) 456.5 467.4 (2.3)
Cash dividends declared per
common share $0.45 $0.45 --
Selected Statistical Information
(Unaudited)
Quarter Ended
June 30,
Percentage
1999 1998 Inc/(Dec)
Return on Average Equity* 25.3% 23.5% --
Common Shares Outstanding
(millions) 449.0 456.8 (1.7)%
Book Value per Common Share:
Actual $21.74 $20.35 6.8 %
Pro Forma* $21.77 $19.11 13.9 %
Shareholders' Equity (billions) $9.8 $9.3 5.0 %
Six Months Ended
June 30,
Percentage
1999 1998 Inc/(Dec)
Return on Average Equity* 25.3% 23.5% --
Common Shares Outstanding
(millions) 449.0 456.8 (1.7)%
Book Value per Common Share:
Actual $21.74 $20.35 6.8 %
Pro Forma* $21.77 $19.11 13.9 %
Shareholders' Equity (billions) $9.8 $9.3 5.0 %
* Excludes the effect of SFAS No. 115.
To view additional business segment financials go to: americanexpress.com
SOURCE: American Express Company
Copyright © 1999 PRNewswire.
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