American Express Company (NYSE: AXP) reported its first quarter 2024 earnings results today.
Consolidated total revenues, net of interest expense, increased 11% year-over-year to $15.8 billion, driven mainly by higher net interest income and increased Card Member spending.
Net income was $2.4 billion, or $3.33 per share, compared to $1.8 billion, or $2.40 per share, last year.
Revenue and earnings beat estimates but the stock was down 2% in premarket hours on Friday.
For the full year of 2024, the company expects revenue to grow 9-11% and EPS to be $12.65-13.15.