天蝎1027
2022-10-21

American Express Q3 GAAP EPS of $2.47 beats by $0.06.

Revenue of $13.56B (+24.1% Y/Y)misses by $20M.

The increase was primarily driven by increased Card Member spending.

Card Member Spending Up 21%, Driven By Continued Momentum AcrossGoods & Services And Travel & Entertainment Spending

The demand for travel has exceeded our expectations throughout the year, with spending on T&E increasing 57 percent from a year earlier and T&E spending volumes in our international markets surpassing pre-pandemic levels for the first time this quarter, both on an FX-adjusted basis.

added 3.3 million proprietary cards in the quarter, and saw acquisitions of U.S. Consumer Platinum and Gold cards and U.S. Business Platinum cards each hit record highs.

Consolidated provisions for credit losses were $778 million, compared with a benefit of $191 million a year ago.

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