American Express Stock Shocks Despite Positive Revenue and Earnings
American Express (Amex) shares closed 3.62% lower on Friday. This came as a surprise, as the credit card giant exceeded Q3 profit estimates. The company also announced plans to cut about 5% of its 77,000 global workforce to prepare for AI. Amex is also taking a $336 million restructuring charge tied to the plan. Amex The post American Express Stock Shocks Despite Positive Revenue and Earnings appeared first on BeInCrypto.
Key Takeaways
- American Express (Amex) shares closed 3.62% lower on Friday.
- This came as a surprise, as the credit card giant exceeded Q3 profit estimates.
- The company also announced plans to cut about 5% of its 77,000 global workforce to prepare for AI.
Summary generated by IndiCrypto from BeInCrypto. IndiCrypto is a news aggregator and does not provide investment advice. Read the original article for full context.
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