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
AXP has seen steady revenue growth over three years, with a focus on service fees and foreign exchange revenues. Operating expenses have shown mixed changes, with increased rewards and employee costs. Net income margin improved to $18 million. Management emphasizes diverse funding sources, market relevancy, and risk mitigation. Key performance indicators remain stable, with a […]
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American Express High Yield Savings Account Overview The High Yield Savings account from American Express, Member FDIC, is a stand-alone savings account that pays a high rate of interest on any.