American Express Company (NYSE: AXP) reported its third quarter 2024 earnings results today.
Consolidated total revenues, net of interest expense, were $16.6 billion, up 8% from the same period a year ago, driven by higher net interest income supported by growth in loan volumes, stable growth in Card Member spending, and accelerated card fee revenue growth.
Net income was $2.51 billion, or $3.49 per share, compared to $2.45 billion, or $3.30 per share, last year. Adjusted EPS grew 6% to $3.49.
Earnings beat estimates while revenue fell short.
AXP raised its full-year 2024 EPS guidance to $13.75-14.05 from the previous range of $13.30-13.80. Revenue growth is expected to be around 9%.
The stock was down over 2% in premarket hours on Friday.