Investing.com —ย American Express Company reported fourth-quarter earnings that surpassed analyst expectations, but shares slipped 1.1% following the announcement.

The financial services giant posted adjusted earnings per share of $3.04 for the quarter, beating the consensus estimate of $3.02. Revenue for the period came in at $17.2 billion, up 9% YoY or 10% on an FX-adjusted basis, driven by strong card member spending, higher net interest income, and accelerated card fee growth.

For the full year 2024, American Express (NYSE:) delivered record revenues of $65.9 billion, up 9% YoY or 10% on an FX-adjusted basis. Net income rose 21% to $10.1 billion, with earnings per share increasing 25% to $14.01.

“2024 was another strong year for American Express. We delivered record revenues of $65.9 billion, up 10 percent on an FX-adjusted basis, record net income of $10.1 billion, and earnings per share of $14.01, up 25 percent year-over-year,” said Stephen J. Squeri, Chairman and Chief Executive Officer.

Looking ahead, the company provided guidance for fiscal year 2025, projecting revenue growth between 8% to 10% and earnings per share in the range of $15.00 to $15.50. Additionally, American Express plans to increase its quarterly dividend by 17% to $0.82 per common share.

ย 


Source link

Best Brokers

Unmatched trading fees, generous bonuses, top notch Regulation Frame.

T&Cs Apply

Risk disclosure: All investments involve a degree of risk of some kind. Trading financial derivative products comes with a high risk of losing money rapidly due to leverage.

Top-Tier Regulations. Unmatched Spreads and Commissions. Trading View is available.

T&Cs Apply

Financial Spread Trades and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 84.7% of retail investor accounts lose money when trading CFDs with this provider.

Modern and Intuitive Interfaces, Solid Regulatory Frame, and excellent Trading Fees.

T&Cs Apply
Risk warning: Trading derivatives is highly speculative, carries an inherent risk of loss and is not suitable for all investors. Before trading, you are strongly advised to read and ensure that you understand the relevant risk disclosures and warnings.

Highly Regulated. Low Spreads and Commissions. Vast Account Options.

T&Cs Apply

Risk Warning: Trading derivatives carries significant risks. It is not suitable for all investors and if you are a professional client, you could lose substantially more than your initial investment.