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American Express Company Message Board

  • kohighbloodpressure kohighbloodpressure Oct 19, 2011 10:46 PM Flag

    Looks like they used Bookeeping to make numbers

    Much like JP morgan Citi BAC all of these financials
    have the ability to use bookkeeping tricks to make their earnings

    in actuality they missed their earnings and or earnings quality was not clean and not reproduceable..
    ichael Taiano, an analyst at Sandler O’Neill in New York, said AmEx beat estimates, in part, by releasing $448 million in reserves that previously were set aside to cover future losses.
    ‘Decent Quarter’
    “It’s a decent quarter; I think there are things for both the bulls and the bears to latch on to,” Taiano said in a phone interview. “They hit the revenue number pretty much right on the head, but the beat on the EPS was a little lower quality because you had a 6-cent tax benefit and a reserve release that also helped earnings.”

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