American Express' second-quarter earnings tell a spending story that stretches from restaurant tables to airport gates to corporate expense accounts, with artificial intelligence sitting somewhere in the middle. Card spending rose 9% on an FX-adjusted basis in the second quarter, according to a Friday (July 24) earnings presentation.
American Express (AXP) stock is in focus this morning after the credit card company reported its fiscal Q2 earnings that told a familiar story of premium strength. AMEX came in ahead of Street estimates with an 11% year-on-year increase in earnings per share (EPS) to $4.53, while the firm's overall revenue went up 10% in the recent quarter to $19.6 billion.
American Express Company (NYSE:AXP, XETRA:AEC1) shares fell about 6% on Friday after the company reported second-quarter revenue that came in slightly below Wall Street expectations, despite beating profit estimates. The company reported earnings per share of $4.53 for the quarter ended June 30, ahead of the consensus estimate of $4.40.
Stock futures are higher this morning as investors look to recover from yesterday's punishing sell-off sparked by AI spending fears and soaring oil prices; Intel stock rose after the chipmaker's earnings blew past estimates; shares of SpaceX fell after it delayed a test flight of its next-generation Starship for the second time in a week; mega-cap tech stocks stabilized after suffering one of t...
Cardmember perks are resonating, an Amex executive says. “It's really about access.
The credit-card company posted higher sales and profit in the second quarter, thanks to higher spending among its credit card members.
American Express increased its full-year revenue growth forecast and beat Wall Street expectations for second-quarter profit on Friday as its affluent customers continued to swipe their cards for travel and dining despite lingering economic uncertainty.