American Express' Renewal of Delta Is a Positive, but It Comes at a Price
Wide-moat American Express began its 2019 growing net revenue by 6.6% from the previous year to $10.4 billion. Unfortunately, the company’s expenses continue to grow at faster rates leading to negative growth in GAAP earnings. During the quarter, the company earned $1.80 per diluted share, a 2.6% year-over-year decrease. The company highlighted a one-time merchant litigation charge that provided a $0.21 per share hit to earnings. On a non-GAAP basis, American Express earned $2.01 per share, an 8...American Express is a payments company. The company is engaged in providing credit and charge cards to consumers, small businesses, mid-sized companies and corporations. The company's reportable operating segments are: Global Consumer Services Group, which provides services to consumers, including travel and lifestyle services; Global Commercial Services, which provides payment and expense management services, as weel as commercial financing products; and Global Merchant and Network Services, which operates a global payments network that processes and settles card transactions, acquires merchants and provides multi-channel marketing programs and capabilities, and services and data analytics.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
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