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American Express CEO says 2024 ‘another strong year’
The Fly

American Express CEO says 2024 ‘another strong year’

“2024 was another strong year for American Express (AXP). We delivered record revenues of $65.9 billion, up 10 percent on an FX-adjusted basis, record net income of $10.1 billion, and earnings per share of $14.01, up 25 percent year-over-year,” said Stephen J. Squeri, Chairman and CEO. “We also saw record levels of annual Card Member spending, record net card fee revenues, and a record 13 million new card acquisitions, and we continued to add millions of merchant locations to our network globally. We exited the year with increased momentum, with billings growth accelerating to 8 percent in the fourth quarter, driven by stronger spending from our consumer and commercial customers during the holiday season. We maintained our best-in-class credit performance and disciplined expense management throughout the year. As we prepare to celebrate the 175th anniversary of American Express in March, we will continue to build on our history of growth and innovation by investing in our premium value propositions, coverage, marketing, technology, and talent. For the full year 2025, we expect revenue growth of between 8 to 10 percent and EPS in the range of $15.00 to $15.50, and we plan to increase our quarterly common stock dividend by 17 percent.” “I am confident that we can sustain our strong momentum over the long term, driven by the many attractive opportunities we see across our premium customer base, particularly with Millennial and Gen Z consumers and in key international markets, along with our operating expense leverage which enables us to continue investing at high levels to drive growth.”

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