American Express Company (NYSE: AXP) reported its second quarter 2024 earnings results today.
Consolidated total revenues, net of interest expense, were $16.3 billion, up 8% from a year ago, driven by higher net interest income, increased Card Member spending, and continued strong card fee growth.
Net income increased 39% to $3 billion and EPS rose 44% to $4.15 compared to last year. Adjusted EPS was $3.49, up 21% from the prior year.
Earnings beat estimates while revenue missed expectations, causing the stock to fall over 1% in premarket hours on Friday.
The company raised its full-year 2024 EPS guidance to $13.30-13.80 from the previous range of $12.65-13.15. Revenue growth for the year is expected to be 9-11%.
The post AXP Earnings: Key quarterly highlights from American Express’ Q2 2024 financial results first appeared on AlphaStreet.
—
Blog powered by G6
Disclaimer! A guest author has made this post. G6 has not checked the post. its content and attachments and under no circumstances will G6 be held responsible or liable in any way for any claims, damages, losses, expenses, costs or liabilities whatsoever (including, without limitation, any direct or indirect damages for loss of profits, business interruption or loss of information) resulting or arising directly or indirectly from your use of or inability to use this website or any websites linked to it, or from your reliance on the information and material on this website, even if the G6 has been advised of the possibility of such damages in advance.
For any inquiries, please contact [email protected]
