(Finance) – American Express ended the third quarter with profits above expectations of analysts, while revenues slightly disappointed expectations. The big credit cards have though guidance revised upwards on the current year’s profits.
“We had another strong quarter that reflects the earnings strength of our business model and our continued growth investments,” said the CEO Stephen Squeri.
The US company closed the quarter with a unet profit of 2.51 billion dollars, up 2% compared to the same period of 2023, while lAdjusted EPS increased 6% to $3.49 per share, beating analysts’ expectations for earnings per share of $3.38. Revenue increased 8% to 16.64 billion of dollars, falling just below the consensus of 16.68 billion dollars.
Thanks to the good results obtained in the quarter and the good performance of the business, American Express has raised 2024 EPS guidance to $13.75-14.05 from USD 13.30-13.80 above. The view on revenues, however, is confirmed, with an estimated growth of 9%.
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