American Express Reports Mixed Q4 Results, Shares Dip
American Express (AXP) reported its fiscal 2024 Q4 results on Friday, largely meeting analyst expectations.
Financials:
* Net income: $2.17 billion ($3.04 per share), in line with estimates
* Revenue: $17.18 billion, slightly above estimates
* Net interest income: $4.04 billion, below estimates
Key Performance Indicators:
* Record Card Member spending and net card fee revenues
* 13 million new card acquisitions
* Strong spending from consumers and commercial customers during the holiday season
Outlook:
* Projects 2025 revenue growth of 8%-10%
* EPS forecast of $15.00-$15.50, slightly below consensus estimates
* Plans to increase quarterly dividend to 82 cents per share
Market Reaction:
* Shares initially declined 2.5% in premarket trading
* Have risen approximately 75% over the past year