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Author: rnam ✧  😊 😞
Number: of 15058 
Subject: Amex excels in Q1
Date: 04/19/2024 11:57 AM
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American Express posted higher profit in the first quarter as the company's cardholders continued to spend.

The New York-based credit card company on Friday reported a profit of $2.44 billion, or $3.33 a share, in the quarter ended March 31, compared with $1.82 billion, or $2.40 a share, a year earlier. Analysts polled by FactSet expected per-share earnings of $2.95. Revenue rose 11% to $15.80 billion…

Squeri said the company had continued to see strong demand from younger Millenial and Gen Z consumers as new card acquisitions accelerated in the quarter.

https://www.morningstar.com/news/dow-jones/2024041...
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