American Express reported Q3 2024 net income of $2.51 billion, or $3.49 per share, up 6% YoY. Revenue reached a record $16.6 billion, increasing 8% YoY driven by higher net interest income and card fee growth. Card Member spending rose 6% and new card acquisitions totaled 3.3 million.Based on strong performance, AmEx raised its full-year 2024 EPS guidance to $13.75-$14.05, up from $13.30-$13.80 previously. The company maintains its revenue growth outlook of around 9% for the full year. Credit performance remained solid with a Q3 net write-off rate of 1.9%.AmEx continues to see momentum from its product refresh strategy, completing 40 global refreshes year-to-date including the new U.S. Consumer Gold Card. The company highlighted strong traction with Millennial and Gen-Z consumers, who represent 80% of new U.S. Consumer Gold Card accounts.

American Express reported Q3 2024 net income of $2.51 billion, or $3.49 per share, up 6% YoY. Revenue reached a record $16.6 billion, increasing 8% YoY driven by higher net interest income and card fee growth. Card Member spending rose 6% and new card acquisitions totaled 3.3 million.Based on strong performance, AmEx raised its full-year 2024 EPS guidance to $13.75-$14.05, up from $13.30-$13.80 previously. The company maintains its revenue growth outlook of around 9% for the full year. Credit performance remained solid with a Q3 net write-off rate of 1.9%.AmEx continues to see momentum from its product refresh strategy, completing 40 global refreshes year-to-date including the new U.S. Consumer Gold Card. The company highlighted strong traction with Millennial and Gen-Z consumers, who represent 80% of new U.S. Consumer Gold Card accounts.