Earnings

Amex Credit Card Metrics Flat In October

American Express said via an 8-K filing with the Securities and Exchange Commission that its credit metrics were roughly flat in October.

The firm, Seeking Alpha noted, said that its book of loans, spanning consumer loans and small business lending, was $54.7 billion at the end of last month, with $53.9 billion logged in September and as much as $53.8 billion in August.

Looking at the delinquencies that were at least 30 days past due as a percentage of all loans in the the Amex portfolio, the percentage rate was 1.1 percent at the end of October, which was flat from the prior two months’ percentage rates. The writeoff percentage of the small business card loan segment was 1.5 percent in October, where it had been 1.6 percent in September and August of this year.

In the latest quarter, results of $1.24 a share were better than the $0.97 a share The Street had expected, and revenues were up 5 percent, excluding items.

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