American Express Company (NYSE: AXP) reported its second quarter 2024 earnings results today.
Consolidated total revenues, net of interest expense, were $16.3 billion, up 8% from a year ago, driven by higher net interest income, increased Card Member spending, and continued strong card fee growth.
Net income increased 39% to $3 billion and EPS rose 44% to $4.15 compared to last year. Adjusted EPS was $3.49, up 21% from the prior year.
Earnings beat estimates while revenue missed expectations, causing the stock to fall over 1% in premarket hours on Friday.
The company raised its full-year 2024 EPS guidance to $13.30-13.80 from the previous range of $12.65-13.15. Revenue growth for the year is expected to be 9-11%.
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