American Express Q3 net income $2.45B, EPS $3.30; revenue record $15.4B, up 13% YoY

AMERICAN EXPRESS CO

2023-Q3 EPS reported $8.59 revenue$27,656,000,000

Record quarterly revenue of $15.4B (+13% YoY) driven by card member spending and higher loan volumes.
Diluted EPS of $3.30, a record, up 34% from $2.47 a year ago; net income $2.451B (+30%).
Provisions for credit losses rose 58% to $1.233B, reflecting higher net write-offs and a lower reserve build.
Card member spending (billed business) grew 8% YoY; T&E spending up 13% and U.S. Millennial/Gen Z spending up 18%.
Company reaffirms full-year guidance; long-term growth plan aspirational.

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 third-quarter 2023 results: revenue $15,381 million, net income $2,451 million, EPS $3.30. Guidance reaffirmed.

Period: third-quarter 2023
Revenue: $15,381 million
Net income: $2,451 million
EPS: $3.30
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Michelle A. Scianni, Michelle.A.Scianni@aexp.com, +1.212.640.5574 AMERICAN EXPRESS REPORTS SIXTH CONSECUTIVE QUARTER OF RECORD REVENUE, UP 13% FROM YEAR EARLIER TO $15.4 BILLION THIRD-QUARTER EARNINGS PER SHARE ROSE 34% TO RECORD $3.30 STRONG RESULTS DRIVEN BY CONTINUED GROWTH IN CARD MEMBER SPENDING AND BEST-IN-CLASS CREDIT PERFORMANCE MOMENTUM SUPPORTS

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8 earnings releases filed in the last 30 days. Browse all earnings releases →

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Source: SEC EDGAR

accession 0000004962-23-000037

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