American Express provided earnings guidance for the year 2016 and 2017. The company announced that earnings per share during 2016 to be between $5.40 and $5.70. Excluding the impact of discrete items, the company believes that underlying tax rate will be closer to the 34% to 35% range it was trending to prior to this quarter.

Turning to 2017, the company is now targeting to earn at least $5.60 per share.