American Express forum. Talk about AmEx credit cards like Blue, Gold, Platinum, Centurion, and more.
- Centurion Member
- Posts: 123
- Joined: Thu Apr 17, 2008 2:04 pm
- Location: White Plains, NY
I saw on here about this big money American Express got from Mastercard this week then there was the Visa money they got lately too. How much we talking here- 4 or 5 billion. What does this company make per year. Shoot that sounds like it would double their profit.
- Green Member
- Posts: 6
- Joined: Fri Jun 27, 2008 8:40 pm
- Location: Michigan
American Express made 3.9 billion during the last 4 quarters so these settlements are significant.
AXP stock price is down over 35% for the year so this cash infusion is needed to give it a boost.
Company revenue and earnings are solid but like the rest of the industry they are not in their hay day right now.
- Platinum Member
- Posts: 66
- Joined: Thu Apr 24, 2008 9:17 pm
- Location: Georgia
Good they deserved it. The big boys were locking American Express out of all the bank issued card business in this country. That's money they lost if they would have been able to do it so good for them for winning.
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