American Express posts record Q2 revenue of $15.1B (+12% YoY); EPS $2.89 (+12%); reaffirms FY2023 guidance

AMERICAN EXPRESS CO

2023-Q2 EPS reported $5.29 revenue$18,279,000,000

Record revenue of $15.1B, up 12% YoY; diluted EPS of $2.89, up 12% YoY (record).
Card Member spending hit all-time high, up 8% FX-adjusted; T&E spending up 14% FX-adjusted.
Reaffirmed full-year 2023 guidance: revenue growth 15-17% and EPS $11.00-$11.40.
Extended Hilton co-brand partnership to 2033; over 70% of new accounts on fee-based products.
Provisions for credit losses rose to $1.2B from $410M YoY; net write-off rate 2.0% vs 0.9% YoY.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

AMERICAN EXPRESS CO reported the second quarter ended June 30, 2023 results: revenue $15.1 billion, net income $2.2 billion, EPS $2.89. Guidance reaffirmed.

Period: the second quarter ended June 30, 2023
Revenue: $15.1 billion
Net income: $2.2 billion
EPS: $2.89
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Kerri S. Bernstein, Kerri.S.Bernstein@aexp.com, +1.212.640.5574 Michelle A. Scianni, Michelle.A.Scianni@aexp.com, +1.212.640.5574 AMERICAN EXPRESS REPORTS RECORD REVENUE OF $15.1 BILLION, UP 12% FROM THE PRIOR YEAR, WITH CARD MEMBER SPENDING REACHING A QUARTERLY HIGH SECOND-QUARTER EARNINGS PER SHARE ROSE 12% TO RECORD $2.89 COMPANY REAFFIRMS FULL-YEAR 2023

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Source: SEC EDGAR

accession 0000004962-23-000027

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