Increase In Card Member Spending Boosts Amex Q1 Revenue, Company Eyes Steady Annual Growth [Yahoo! Finance]
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
The increase was primarily due to higher net interest income and increased Card Member spending. EPS of $3.33 beat the consensus of $2.95 Card Member spending or Billed Business grew 6% Y/Y to $367 million. Also Read: Mastercard Set to Increase Credit Card Fees, Adding Millions in Costs for Retailers After Visa Settlement U.S. Consumer Services revenue was $7.5 billion, up 14% year over year . Commercial Services revenue was $3.8 billion, up 8.4% year over year. International Card Services revenue was $2.7 billion, up 8.1% Y/Y, and Global Merchant and Network Services revenue was $1.9 billion, up 7.4% Y/Y. Total expenses increased by 3% Y/Y to $11.4 billion, primarily reflecting higher customer engagement costs due to higher Card Member spending, increased usage of travel-related benefits, and higher marketing investments. Provision for credit losses stood at $1.3 billion, compared with $1.1 billion a year ago, reflecting higher net write-offs. Chair and CEO Stephen J.
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AXP
News
- S&P Stocks To Trade In May [Forbes]Forbes
- Accel-KKR Completes Acquisition of Accertify from American Express [Yahoo! Finance]Yahoo! Finance
- Accel-KKR Completes Acquisition of Accertify from American ExpressPR Newswire
- North America Credit Card Transactions Market Outlook, 2024-2029: Business Strategies Adopted by Key Players, Consumer Spending Habits, e-Commerce Growth [Yahoo! Finance]Yahoo! Finance
- American Express Stock (NYSE:AXP): Strong Earnings Strengthen the Bull Case [Yahoo! Finance]Yahoo! Finance
AXP
Earnings
- 4/19/24 - Beat
AXP
Sec Filings
- 5/2/24 - Form 4
- 5/2/24 - Form 4
- 5/2/24 - Form 144
- AXP's page on the SEC website