American Express Co

AXP

Equity

ISIN US0258161092 / Valor 906153

New York Stock Exchange, Inc (2024-12-26)

USD 303.99+0.17%

American Express Co
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About company

American Express Co is a leading global payments company that offers a wide range of financial products and services designed to facilitate commerce and enhance the customer experience for individuals and businesses alike. The company is renowned for its credit card services, consistently ranking high in customer satisfaction due to its focus on providing superior service and support. American Express has made significant strides in digital innovation, ensuring secure and seamless payment methods for its users. It operates the world’s largest integrated payments platform, connecting millions of consumers and businesses worldwide. The company's product portfolio includes a diverse array of offerings for consumers, travelers, businesses of all sizes, and merchants, aiming to meet their evolving needs. Additionally, American Express maintains strategic partnerships with airlines, banks, retailers, and other entities to deliver valuable rewards and experiences to its customers.

Summarized from source with an LLMView SourceSector: Finance

Revenue Growth

In the third quarter of 2024, American Express Co reported a record revenue of $16.6 billion, marking an 8% increase from the previous year. This growth was primarily driven by higher net interest income, stable growth in Card Member spending, and accelerated card fee revenue growth.

Earnings Per Share

American Express Co's earnings per share (EPS) for the third quarter of 2024 rose to $3.49, a 6% increase compared to the same period in the previous year. This improvement reflects the company's strong earnings power and effective business model.

Net Income

The company reported a net income of $2.51 billion for the third quarter of 2024, up from $2.45 billion in the same quarter of the previous year. This 2% increase in net income highlights the company's continued financial strength and operational efficiency.

Card Member Spending

American Express Co experienced a 6% increase in total Card Member spending during the third quarter of 2024. The company also saw a significant 18% growth in card fee revenue, driven by the acquisition of 3.3 million new premium Card Members and high retention rates.

Full-Year Outlook

Based on its strong performance in the third quarter of 2024, American Express Co has raised its full-year EPS guidance to a range of $13.75 to $14.05, up from the previous range of $13.30 to $13.80. The company continues to expect full-year revenue growth to be around 9%, in line with its annual guidance.

Summarized from source with an LLMView Source

Key figures

63.5%1Y

85.1%3Y

142%5Y

Performance

23.8%1Y

29.0%3Y

38.1%5Y

Volatility