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American Express GAAP EPS of $2.47 Beats By $0.06, Revenue of $13.56B Misses By $20M

Seeking Alpha2022-10-21

  • 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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Comment5

  • Delvin
    ·2022-10-21
    Ok
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  • Slee49
    ·2022-10-21
    Noted
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    • Slee49
      OK
      2022-10-21
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  • 天蝎1027
    ·2022-10-21
    Ok
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  • 天蝎1027
    ·2022-10-21
    Ok
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  • Desna10
    ·2022-10-21
    what is credit losses? 
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