Rich American Express customers continue to spend freely
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American Express (AXP) stock fell 2.6% in Friday midday trading as the credit card company's core pre-provision net revenue ((NNPR)) fell short of Wall Street expectations. New card acquisitions also slowed during the quarter.
American Express (AXP) reaffirmed its earnings guidance for 2025, projecting an 8% to 10% revenue growth and EPS between $15.00 and $15.50. Despite reporting record card spending for Q2 2025 with $4.08 earnings per share and a 9% revenue increase,
The Dow Jones Industrial Average is trading down Friday afternoon with shares of 3M and American Express seeing the biggest drops for the blue-chip average. Shares of 3M and American Express are contributing to the blue-chip gauge's intraday decline,
American Express is opening a new lounge at Harry Reid International in Las Vegas for customers within 90 minutes of their flight.
American Express enlisted top culinary talent to expand its Centurion Lounge offerings, plus revealed Sidecar, a new concept launching at the airport in Las Vegas.
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American Express posted higher revenue in the second quarter, driven by a 20% jump in card fees.