"American Express reported record quarterly revenue of $17.9 billion, up 9% year-over-year, as well as total Card Member spending that surged 7% over the same period in 2024 to a new high of $416.3 billion."
"Not only are these card members spending more, but they're also showing a renewed appetite for premium products and experiences, indicating a favorable economic sentiment among affluent consumers."
"Expenses rose 14% year-over-year, as the company reinvested in technology and expanded risk management, responding to increased Card Member spending and usage of travel-related benefits."
"Momentum is especially strong among millennials and Gen Z who are embracing the brand's luxury value proposition, showing strong demand for premium offerings from American Express."
American Express announced record earnings with a quarterly revenue of $17.9 billion, up 9% from the previous year. Card Member spending reached $416.3 billion, a 7% increase, indicating strong financial confidence among affluent customers. Although expenses rose 14% due to reinvestments in technology and customer engagement, the company maintains a positive outlook, projecting 8%-10% revenue growth. Millennial and Gen Z consumers are significantly driving demand for premium products and experiences, despite concerns over costs impacting profit margins.
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