
The planned layoffs resulted in a $400 million restructuring charge in the fourth quarter, the New York-based credit-card company said in a surprise earnings announcement
It also said it would record $342 million in expenses related to its cardholder rewards program, and refund $153 million to cardholders related to past customer transactions
The moves resulted in a profit of $637 million, or 56 cents per share, in the fourth quarter
Excluding the charges, the company would have posted a profit of $1.2 billion, or $1.09 per share
Analysts polled by Thomson Reuters were expecting earnings of $1.06 per share
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