As per reports, American Express Company (AXP) released third-quarter earnings reporting earnings per share of $2.27 a share on revenue of $10.9 billion, exceeding analysts’ estimates of $1.80 a share on revenue of $10.52 billion. Net income in the period was $1.83 billion versus $1.07 billion a year earlier. Provisions for credit losses were a net of $191 million, lower than the provision expense of $665 million a year earlier. Cardholder spending increased to a record high and was up 19% from the third quarter of 2019. Spending by Millennial and Gen-Z cardholders increased 38% from the third quarter of 2019.
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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