American Express Co’s (NYSE:AXP) first-quarter revenue (net of interest expense) grew 11% year-on-year to $15.80 billion, marginally beating the consensus of $15.79 billion. The increase was primarily due to higher net interest income and increased Card Member spending. EPS of $3.33 beat the consensus of $2.95. Card Member spending or Billed Business grew 6% Y/Y to $367 million. Also Read: Mastercard Set to Increase Credit Card Fees, Adding Millions in Costs for Retailers After Visa Settlement U
American Express reports an 11% Y/Y revenue increase to $15.8 billion in Q4 2023, slightly below expectations, with EPS also missing targets. Despite these shortfalls, the company experienced growth in various sectors, including U.S. Consumer and International Card Services, and plans a 17% dividend hike for Q1 2024.