Amex Sees Continued Growth Despite Global Economic Headwinds
American Express reported strong first-half revenue growth of 10% on an FX-adjusted basis, exceeding expectations. The company's earnings per share (EPS) rose in the mid-teens over the same period.
Card fees increased by 16% year-to-date and are expected to accelerate further in the second half. International markets, younger cardmembers, and premium products remain central to American Express's long-term growth plan.
The company raised its full-year revenue guidance to about 10%, while keeping its EPS outlook unchanged, excluding gains from the planned sale of GBT shares. Chief Financial Officer Christophe Le Caillec emphasized that strong profitability and share repurchases reinforce each other, allowing for mid-teen EPS growth when accompanied by 10% revenue growth.