JRNY - Increase In Card Member Spending Boosts Amex Q1 Revenue Company Eyes Steady Annual Growth | Benzinga
American Express Co’s (NYSE:AXP) first-quarter revenue (net of interest expense) grew 11% year-on-year to $15.80 billion, marginally beating the consensus of $15.79 billion.
The increase was primarily due to higher net interest income and increased Card Member spending. EPS of $3.33 beat the consensus of $2.95.
Card Member spending or Billed Business grew 6% Y/Y to $367 million.
U.S. Consumer Services revenue was $7.5 billion, up 14% year over year. Commercial Services revenue was $3.8 billion, up 8.4% year over year.
International Card Services revenue was $2.7 billion, up 8.1% Y/Y, and Global ...