American Express Q3 Earnings: Profit Beats Estimate, Card Spending Grows, Revises Annual Outlook
Portfolio Pulse from Anusuya Lahiri
American Express reported Q3 earnings with an 8% revenue growth, slightly missing estimates, but EPS beat expectations. Card spending increased, and the company revised its annual outlook. Despite initial stock gains, AXP shares fell premarket. The company faces downgrades from several analysts.
October 18, 2024 | 12:28 pm
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American Express reported an 8% revenue growth in Q3, slightly missing estimates, but EPS beat expectations. Card spending increased, and the company revised its annual outlook. Despite initial stock gains, AXP shares fell premarket. The company faces downgrades from several analysts.
American Express reported strong earnings with an EPS beat, but revenue slightly missed expectations. The stock initially rose but fell premarket, likely due to analyst downgrades and concerns over future growth amid inflation and higher rates. The revised FY24 outlook shows cautious optimism, but the market reaction suggests short-term pressure on the stock.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100