Companies can be and as allamerican as they come. Coke, boeing, and late today, American Express. And thats where we begin. The Financial Services company struggling since its exclusive relationship with cosco was broken off earlier this year and today it posted disappointing results. Earnings per share came in at 1. 24, and that was a full 7 cents below estimates. Revenue for the quarter also missed, and it was down about 1 from a year ago, and that pressured shares initially in extendedhours trading, as you see there. Mary thompson has more on American Expresss results. Reporter well, American Express is spending more to get new business, and that hurt its bottom line in the Third Quarter. The electronic payment giants profits falling over , hurt by higher spending on growth initiatives, the impact of a stronger dollar and money spent to renew cobranded relationships. With its exclusive deal to be the lone credit card accepted in Costco Stores expiring next year, amex expanding more
Making hardware into cloud computing. Ibm reported earnings of 3. 34 a share. That was four cents better than estimates. Thats the good news. But revenue fell nearly 14 from a year ago, coming in at 19. 28 billion. And that sent shares of the dow component initially lower in afterhours trading. In an interview after the results were released ibms cfo talked about the decline in revenue. Within the revenue we report we obviously have a pretty substantial currency headwind that we continue to deal with. And as we transform our business we continue to move out of areas where we dont see longterm value. So across that across our revenue base thats about 13 points of impact. Josh lipton has more now on ibms results. Reporter 5. 1 billion. That is what ibm reported for its software revenue. A drop of 10 compared with the Third Quarter of last year. Analysts had been looking for 5. 2 billion. So a point of weakness where the street was expecting strength. Fbrs dan ives says the bigger point h
Making hardware into cloud computing. Ibm reported earnings of 3. 34 a share. That was four cents better than estimates. Thats the good news. But revenue fell nearly 14 from a year ago, coming in at 19. 28 billion. And that sent shares of the dow component initially lower in afterhours trading. In an interview after the results were released ibms cfo talked about the decline in revenue. Within the revenue we report we obviously have a pretty substantial currency headwind that we continue to deal with. And as we transform our business we continue to move out of areas where we dont see longterm value. So across that across our revenue base thats about 13 points of impact. Josh lipton has more now on ibms results. Reporter 5. 1 billion. That is what ibm reported for its software revenue. A drop of 10 compared with the Third Quarter of last year. Analysts had been looking for 5. 2 billion. So a point of weakness where the street was expecting strength. Fbrs dan ives says the bigger point h
Companies can be and as allamerican as they come. Coke, boeing, and late today, American Express. And thats where we begin. The Financial Services company struggling since its exclusive relationship with cosco was broken off earlier this year and today it posted disappointing results. Earnings per share came in at 1. 24, and that was a full 7 cents below estimates. Revenue for the quarter also missed, and it was down about 1 from a year ago, and that pressured shares initially in extendedhours trading, as you see there. Mary thompson has more on American Expresss results. Reporter well, American Express is spending more to get new business, and that hurt its bottom line in the Third Quarter. The electronic payment giants profits falling over , hurt by higher spending on growth initiatives, the impact of a stronger dollar and money spent to renew cobranded relationships. With its exclusive deal to be the lone credit card accepted in Costco Stores expiring next year, amex expanding more
Companies can be and as allamerican as they come. Coke, boeing, and late today, American Express. And thats where we begin. The Financial Services company struggling since its exclusive relationship with cosco was broken off earlier this year and today it posted disappointing results. Earnings per share came in at 1. 24, and that was a full 7 cents below estimates. Revenue for the quarter also missed, and it was down about 1 from a year ago, and that pressured shares initially in extendedhours trading, as you see there. Mary thompson has more on American Expresss results. Reporter well, American Express is spending more to get new business, and that hurt its bottom line in the Third Quarter. The electronic payment giants profits falling over , hurt by higher spending on growth initiatives, the impact of a stronger dollar and money spent to renew cobranded relationships. With its exclusive deal to be the lone credit card accepted in Costco Stores expiring next year, amex expanding more