Wednesday, August 7, 2013

US Big Credit Card Corps 2Q 2013 Adjusted Earnings Up 13% and EPS Up Much Higher

There are four large US Credit Card Corps.  Their Total Adjusted Earnings increased by 13% in the 2Q 2013 over the 2Q 2012.  And on an EPS growth basis, their earnings growth was even much higher, due to their substantial stock buybacks.

There is something seriously wrong with the US economy when all of the large Financial Corps do so well all across the board in the 2Q 2013, when so many Non-Financial Corps are not doing well on the earnings front.

And there is also something unfair when these Credit Card Corps and Big Financial Corps like JP Morgan Chase and Citigroup continue to generate blowout earnings while so many of their financially-strapped customers go deeper and deeper in debt, further expanding the huge economic gap between the wealthy and everyone else.

Below here are the Adjusted Earnings of these 4 Big Credit Card Corps in both the 2Q 2013 and the 2Q 2012:

2Q 2013 2Q 2012

Adjusted Adjusted

Net Net

Income Income

From From

Continuing Continuing Increase Increase

Operations Operations (Decrease) (Decrease)

mil $s mil $s Amount %
Big Credit Card Corps

American Express 1,405 1,339                              66 5%
Visa 1,225 1,055                            170 16%
MasterCard 848 700                            148 21%
Discover Financial Services 602 525                              77 15%

Total all 4                        4,080                        3,619                            461 13%