AmEx posts all-time high revenue of $15.1B in Q2 - Breaking The News

AmEx posts all-time high revenue of $15.1B in Q2

21 July

1 min read

EPA/JUSTIN LANE

American Express Co. announced on Friday that its revenue for the second quarter reached $15.1 billion, marking its fifth straight quarter of record revenues and rising 12% year-on-year, although still falling short of forecasts. Net income grew 11% on a yearly basis to $2.2 billion, with diluted earnings per share (EPS) up 12% to $2.89.

"Based on our results to date, we are reaffirming the full-year 2023 guidance we provided in January for revenue growth of 15% to 17% and EPS of $11 to $11.40. We remain committed to running the company with a focus on achieving our longer-term growth aspirations in a steady-state environment," CEO Stephen Squeri said.

American Express saw its stock plunge 3.45% after the earnings release.

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