The American Express Company announced on Thursday that its revenues for the first quarter of fiscal 2025 increased 7% to $16.96 billion.
The company's net income increased by 6% compared to the year before, coming in at $2.5 billion. The company's diluted earnings per share (EPS) also marked a jump of 9%, in comparison to the same trimester the year before, going from $3.33 to $3.64 per share. The corporation said it expects its full-year EPS to be between $15.00 and $15.50.
"We delivered strong results during the first quarter, reflecting the power of our premium customer base. FX-adjusted revenue increased 8 percent year-over-year, or 9 percent excluding the leap year impact to $17.0 billion. Total Card Member spending continued to grow at a solid pace, up 6 percent, or 7 percent excluding the leap year impact," CEO Stephen Squeri said.
The company's stock traded 1.15% lower during the premarket trade after the announcement.
