AmEx Promises $3 Billion in Cost Cuts, New Platinum Rewards [Yahoo! Finance News]
American Express Company (AXP)
Last american express company earnings: 4/24 07:00 am
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ir.americanexpress.com
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Source: Yahoo! Finance News
) -- American Express Co. said it’s seeking to cut $3 billion in costs after the coronavirus pandemic caused a plunge in spending on the firm’s cards.The slowdown the credit-card issuer began to see in March as a result of nationwide shelter-in-place orders has “dramatically” impacted spending on its cards in April as well, American Express warned Friday. Provisions for loan losses rose to $2.6 billion in the first three months of the year as unemployment soared.Chief Executive Officer Steve Squeri, who led expense-reduction efforts at American Express before taking the helm in 2018, said the planned cost cuts are the largest he can remember the company undertaking. American Express will keep investing in mobile capabilities as well as customer service and collections, he said.“It was important for us to stick with those initiatives that inevitably would be important when this crisis ended,” Squeri said on a conference call with analysts. “We’re focused on ensuring that when this cris
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News
- ‘Small Business Saturday' Hopes Dashed By 18% Spending Decline In 2025 [Forbes]Forbes
- More travelers have lounge access than ever. Is that a good thing? [USA TODAY]USA TODAY
- Accertify: Cyber Monday Transaction Volume Jumps 24% as Smaller Carts and Later Evening Shopping Dominate [Yahoo! Finance]Yahoo! Finance
- American Express (AXP) Declines More Than Market: Some Information for Investors [Yahoo! Finance]Yahoo! Finance
- Accertify's Black Friday Data Reveals Shift in Consumer Spending: Transaction Volume Surges 24% While Average Purchase Size Hits Four-Year Low [Yahoo! Finance]Yahoo! Finance
AXP
Earnings
- 10/20/25 - Beat
AXP
Sec Filings
- 11/17/25 - Form 8-K
- 11/4/25 - Form 4
- 11/4/25 - Form 4
- AXP's page on the SEC website