American Express Beats Profit Estimates on Strong Spending
The credit card giant reported a quarterly profit of $4.28 per share as affluent customers drove a 9% increase in total spending. Revenue rose to $18.9 billion.
Xurve View
Insights:
Xurve View
AMERICAN EXPRESS CO has outperformed Wall Street expectations for the first quarter of the year, driven by the resilient spending habits of its affluent customer base. Despite a macroeconomic environment characterized by elevated interest rates and persistent inflation concerns in the United States, the credit card giant demonstrated significant financial strength.
