AXP - American Exchange Gears Up For Q2 Earnings: Can Credit Card Stock Sustain Bullish Momentum? | Benzinga
American Express Co (NYSE:AXP) will report its second-quarter earnings on Friday. As the company reports before market hours, Wall Street expects $3.25 in EPS and $16.6 billion in revenues.
Catalysts Driving Stock Surge
The stock is up 42.52% over the past year, 33.43% YTD. Key catalysts driving American Express stock include:
- Focus on Millennial and Gen Z Demographics: Targeting these groups for new card acquisitions and profitability.
- Digital Transformation Investments: Enhancing digital payment solutions, including digital wallets and tokenization.
- Strong Financial Performance: Significant revenue and earnings growth, with Q1 FY24 revenue up 11% year-over-year and earnings per share increasing by 39% to $3.33.
- Record New Card Acquisitions: 12.2 million new cards in 2023, with 3.4 million in Q1 FY24, expanding the total network to over 140 million.
- Resurgence in Travel Demand: Positioning to benefit from increased travel demand in 2024 and beyond.
What Wall Street Will Be Focusing On
As American Express reports Q2 earnings tomorrow, Wall Street analysts will focus on key metrics such as revenue and earnings growth, comparing them to previous quarters. They will be interested in the number of new card acquisitions and customer engagement trends, ...