American Express CEO Stephen Squeri Says Billings In October Was Not As Strong As In Q3; Billings In November Was In Line With Q3 Levels; Not Seeing Slowdown In Demand For Premium, Fee-Paying Cards
Portfolio Pulse from Benzinga Newsdesk
American Express CEO Stephen Squeri reported that the company's billings in October were weaker than in Q3, but November billings aligned with Q3 levels. He also noted that there is no slowdown in demand for premium, fee-paying cards.
December 05, 2023 | 4:42 pm
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American Express billings in October were weaker than Q3, but November showed recovery to Q3 levels. Demand for premium cards is still high.
The news indicates a temporary dip in billings for American Express in October, but a recovery in November suggests resilience. The sustained demand for premium cards is a positive sign. However, the mixed performance could lead to neutral short-term market sentiment until further clarity on overall quarterly performance is provided.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100