American Express sells off on lower full-year revenue guidance

• AXP stock slips 5% on topline weakness in third quarter.
• Full-year revenue guidance guided down to low end of prior range.
• American Express bested consensus on earnings by $0.20.
• Credit provisions, write-offs rise moderately in Q3.
   

American Express (AXP) stock swooned over 5% on Friday after it reported third-quarter results. The company reduced its outlook for full-year revenue guidance from between 9% and 11% to the lower end of that range, which perturbed market sentiment.

Despite reporting Q3 consensus revenue at consensus on Friday and raising full-year earnings guidance, AXP shares immediately sold off.