American Express Q3 Earnings: Double Digit Revenue And Profit Growth, Network Volumes Surge
Portfolio Pulse from Anusuya Lahiri
American Express Co (NYSE:AXP) reported Q3 revenue of $15.38 billion, a 12% YoY increase, beating the consensus of $15.36 billion. EPS of $3.30 also surpassed the consensus of $2.94. Card Member spending grew 7% on an FX-adjusted basis, driven by double-digit U.S. Consumer and International Card Member spending growth. Total Network Volumes increased 7% YoY to $420.2 billion. The company is on track to achieve its annual revenue growth and EPS guidance.
October 20, 2023 | 11:54 am
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American Express reported strong Q3 results with revenue and EPS beating consensus estimates. The company's card member spending and total network volumes also saw significant growth.
American Express reported strong Q3 results, beating consensus estimates for both revenue and EPS. This indicates a strong financial performance and could lead to increased investor confidence, potentially driving the stock price up in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100