American Express revenue growth of 12% lags Wall Street forecasts
American Express Co. said Friday that it saw an all-time high in spending through its card products during the latest quarter as consumers continued to pay up for travel and entertainment experiences.
The company generated a net income of $2.17 billion, or $2.89 a share, compared with $1.96 billion, or $2.57 a share, in the year-earlier quarter. Analysts tracked by FactSet were looking for $2.81 a share.Amex called out sustained demand in its premium offerings as 70% of its new accounts acquired in the second quarter were from fee-based products. More than 60% of Amex’s new consumer accounts went to cardholders in the Millennial and Gen Z generations, the company said.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Japan’s Jun Endo has learned to express herself with Angel City FCThe relentless winger with the pink hair and a lethal left foot is sure to draw attention when Japan opens play against Zambia this week. “She creates an expectation that something will happen when…
Read more »
Fans Express Concern Over Perceived Unequal Treatment of ITZY's Ryujin by JYP Entertainment | allkpopIn the years following ITZY's debut, fans have consistently voiced their discontent towards JYP Entertainment, expressing disappointment over what th…
Read more »
Muslim-majority nations express outrage and plan street protests over Quran desecration in SwedenMuslim-majority nations are expressing outrage over the desecration of a copy of the Quran in Sweden. In Iran, Iraq and Lebanon, demonstrations were planned after Swedish police permitted a protest in which an Iraqi Christian kicked and stood on a Quran.
Read more »
Plate Selections Gallery | Department of TransportationThis week's Specialty Plate Spotlight is the Share The Road plate. When you buy this plate, $17 goes groups promoting road safety and awareness for cyclists and runners. Do you have this plate? What are your reasons for supporting this cause?
Read more »