American Express generated record second-quarter revenue amid strong spending by cardholders, the company said in a July 18 statement.
For Q2 ending June 30, Amex brought in $17.85 billion in total revenues after interest expenses, up 9 percent compared to the same period in 2024. However, its net income registered a drop of 4 percent, and diluted earnings per share fell 2 percent.
Shares of the company ended Friday down by roughly 2.3 percent. Overall, so far this year, Amex shares are up by around 2.65 percent, having largely moved within a price range of $220 to $330 per share during this period.
According to the company, the 9 percent jump in revenues was “primarily driven by increased Card Member spending, higher net interest income supported by growth in revolving loan balances, and continued strong card fee growth.”…