American Express Company Q2 2024 Earnings Summary $AXP
In the latest episode, we dive into American Express Company's Q2 2024 earnings call, where CEO Stephen Squeri unveils a robust performance with record revenue of $16.3 billion, representing a 9% year-over-year increase. The company saw a remarkable 44% rise in earnings, even when excluding a one-time gain, with earnings per share up 21%. Squeri emphasizes the strength of their premium customer base and plans a significant $6 billion investment in marketing, signaling aggressive growth through innovative products and enhanced customer engagement. CFO Christophe Le Caillec reports an 11% year-over-year increase in loans and card member receivables, while projecting stable credit performance amidst an expected moderation in growth. With a 6% uptick in U.S. consumer spending and 13% growth internationally, AmEx projects continued revenue growth of 9% to 11% for the year. Join us to uncover how American Express aims to leverage its unique business model for sustained long-term growth and navigate potential consumer spending challenges.
