Reportedly, American Express Company’s (AXP) quarterly profit beat market estimates as consumers continued to spend to dine out during the holidays, fading the company’s fears of a big impact from the Omicron variant. The company forecast 2022 net revenue growth of between 18% and 20% and earnings per share of $9.25 to $9.65.
For the quarter ending Dec. 31, AmEx’s revenue excluding interest expense surged by 30% as spending on travel and entertainment more than doubled. Net income stood at $1.7 billion, or $2.18 per share, higher than analysts’ estimates of $1.87 per share. AmEx executives informed that the credit card giant would probably not launch a cryptocurrency card, but is considering using the digital asset as a possible redemption option in the future.
Dow 30 component American Express Company (AXP) and its subsidiaries provide customers and businesses with charge and credit payment card products and travel-related services globally. They look to enrich the lives of their customers and build business success. To learn more about American Express Company (AXP) and to continue to track its progress please visit the Vista Partners American Express Coverage Page.
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