Rich American Express customers continue to spend freely
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Amex saw 7% growth in spending last quarter. Spending on front-of-cabin plane tickets was up even more than that.
American Express (AXP) reaffirmed its earnings guidance for 2025, projecting an 8% to 10% revenue growth and EPS between $15.00 and $15.50. Despite reporting record card spending for Q2 2025 with $4.08 earnings per share and a 9% revenue increase,
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American Express enlisted top culinary talent to expand its Centurion Lounge offerings, plus revealed Sidecar, a new concept launching at the airport in Las Vegas.
The company reported record quarterly revenue of $17.9 billion, with millennial spending up 10% and Gen Z spend an astonishing 40%.
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American Express (AXP) is expected to see a rise in its second-quarter earnings and revenue, driven by strong billings growth.
American Express' top brass reassured investors concerned about intensifying competition for affluent customers after resilient spending by cardholders helped the company surpass second-quarter profit estimates on Friday.
"We saw record Card Member spending in the quarter, demand for our premium products was strong, and our credit performance remained best in class," American Express CEO Stephen Squeri said. The company affirmed its full-year projections of 8% to 10% revenue growth and EPS of $15 to $15.50, ranges it also held steady last quarter.