American Express Company announced consolidated earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company announced total revenues net of interest expense of $8,022 million compared to $8,391 million for the same period a year ago. Net income was $825 million compared to $899 million for the same period a year ago. Earnings per common share, diluted were $0.88 compared to $0.89 for the same period a year ago. Return on average equity was 26.0% compared to 24.0% for the same period a year ago. Excluding a restructuring charge related to cost reduction efforts, adjusted diluted earnings per share was $0.91. Adjusted total revenues net of interest expense was $8,022 million compared to $7,634 million for the same period a year ago.

For the full year, the company announced total revenues net of interest expense of $32,119 million compared to $32,818 million for the same period a year ago. Net income was $5,408 million compared to $5,163 million for the same period a year ago. Earnings per common share, diluted were $5.65 compared to $5.05 for the same period a year ago. Return on average equity was 26.0% compared to 24.0% for the same period a year ago. Excluding restructuring charges related to cost reduction efforts, adjusted diluted earnings per share was $5.93. Adjusted total revenues net of interest expense was $30,926 million compared to $29,761 million for the same period a year ago.

The company provided earnings guidance for the full year of fiscal 2017. The company expects EPS for 2017 to be between $5.60 and $5.80. It expects the tax rate for 2017 to be more in line with its third quarter year-to-date average of 33% to 34%.