American Express Posts Record Q2 Revenue, EPS Growth
American Express Posts Record Q2 Revenue, EPS Growth

American Express Posts Record Q2 Revenue, EPS Growth

News summary

American Express reported strong second-quarter results with earnings per share of $4.08 and revenue of $17.86 billion, both exceeding analyst expectations. The company saw a 9% year-over-year revenue increase and billed over $416 billion in transactions, reflecting robust consumer spending, particularly in premium products. CEO Stephen Squeri highlighted record Card Member spending and confidence in maintaining leadership in the premium credit card market, supported by upcoming updates to its Platinum cards. Despite rising provisions for credit losses, American Express reaffirmed its full-year guidance of 8% to 10% revenue growth and EPS between $15 and $15.50. The stock reacted positively, gaining around 2% in premarket trading, amid a broader outlook of a strong U.S. consumer. Analyst consensus on American Express remains cautious with a 'Hold' recommendation and mixed price target estimates, reflecting some concerns about valuation despite solid operational performance.

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