American Express shares fell about 3% Friday after the company reported earnings and gave an outlook that disappointed some investors. The credit card company logged net income of $2.17 billion, or $3.

American Express turned in solid quarterly results Friday, increased its dividend, and highlighted record levels of card member spending. However, investors seemed to be shrug off the positives, sending shares 2.

Q4 total network volume of $464.0B, vs. the Visible Alpha consensus of $458.2B, vs. $434.4B in the year-ago quarter. Network volume grew 7% Y/Y, accelerating from 5% Y/Y growth in Q3. Total billed business increased 8% Y/Y to $408.4B, compared with 6% growth in Q3.