American Express (AXP) came out with quarterly earnings of $3.49 per share, beating the Zacks Consensus Estimate of $3.22 per share. This compares to earnings of $2.89 per share a year ago.
American Express Co. said it topped $2 billion in quarterly revenue from card fees for the first time in the second quarter, as it booked its 24th quarter in a row of of double-digit growth from such fees.
American Express beat estimates for second-quarter profit as its wealthy customers persisted in splurging on travel, dining and entertainment, the credit card giant said on Friday.
The fintech industry has shown its resilience even in tough times. Despite an uncertain economy, a high inflationary environment and a long period of low consumer spending, financial companies have stood strong.
The Federal Court of Australia fined a local unit of American Express (AmEx) A$8 million ($5.36 million) for breaching design and distribution rules for two of its co-branded credit cards, the Australian corporate regulator said on Friday.
American Express' (AXP) second-quarter earnings are likely to have benefited from higher network volumes, total cards-in-force and interest income.
The fintech stocks had their heyday back in 2020-21 when it was thought they'd pose a serious threat to the market share of traditional financial institutions (think the banks). When the pandemic lockdowns happened and online shopping went into overdrive in what was a “roaring start” to the 2020s, it seemed like the market's fintech darlings could only go higher.
Blue-chip stocks are household names that are likely to deliver long-term gains for patient investors. Furthermore, these corporations are less risky and aren't as prone to going out of business.
Fundamental analysis focuses on a company's finances, catalysts, valuation, and other components that impact a stock's long-term performance. It doesn't consider technical indicators like 50-day moving averages and oscillators.
American Express (AXP) doesn't possess the right combination of the two key ingredients for a likely earnings beat in its upcoming report. Get prepared with the key expectations.
Blue-chip stocks tend to carry less risk than micro-cap stocks. Investing in established corporations with vast moats and plenty of recognition can lead to steady gains in the long run.
In the most recent trading session, American Express (AXP) closed at $237.75, indicating a +1.38% shift from the previous trading day.