Welcome to our dedicated page for American Express Company news (Ticker: AXP), a resource for investors and traders seeking the latest updates and insights on American Express Company stock.
American Express Company (AXP) is a prominent multinational financial services corporation headquartered in New York City. Known for its specialization in payment cards, American Express is one of the most valuable companies globally and a key component of the Dow Jones Industrial Average.
Operating in around 130 countries, American Express provides a variety of charge and credit card payment products to both consumers and businesses. Its business is divided into three main segments: Global Consumer Services, Global Commercial Services, and Global Merchant and Network Services. Beyond its payment cards, the company offers expense management tools, consulting services, and business loans. The merchant payment network operated by American Express is highly profitable, facilitating transactions worldwide.
In recent news, American Express has agreed to sell its subsidiary Accertify to Accel-KKR, a private equity firm. Accertify is known for its advanced fraud prevention, chargeback management, and payment gateway solutions. This strategic move is expected to enable Accertify to accelerate its growth and product innovation in the fraud prevention market as an independent entity.
American Express continues to innovate and expand its services, adapting to the growing digital economy. The company remains committed to providing customers with access to products, insights, and experiences that enrich lives and build business success.
American Express (NYSE: AXP) announced that Chairman and CEO Stephen J. Squeri will participate in the Goldman Sachs U.S. Financial Services Conference in New York. The event will take place on Tuesday, December 10, 2024, at 09:20 a.m. Eastern. Squeri will engage in a fireside chat discussing the company's business strategy and financial performance. The public can access a live audio webcast through the American Express Investor Relations website, with an audio replay available after the event.
American Express (NYSE: AXP) has announced its Board of Directors' declaration of a quarterly dividend on the company's 3.550% Fixed Rate Reset Noncumulative Preferred Shares, Series D. The dividend amount is set at $8,973.61 per share, equivalent to $8.97361 per related Depositary Share. Shareholders of record as of December 1, 2024, will receive the dividend payment on December 16, 2024.
American Express (NYSE: AXP) reported strong third-quarter results, with net income of $2.51 billion, or $3.49 per share, compared to $2.45 billion, or $3.30 per share, a year ago. The company achieved its 10th consecutive quarter of record revenue, rising 8% to $16.6 billion. Based on this performance, American Express raised its full-year 2024 EPS guidance to $13.75 - $14.05, up from $13.30 - $13.80 previously.
Key highlights include:
- Total Card Member spending increased 6%
- Card fee revenue growth accelerated to 18%
- 3.3 million new card acquisitions
- Completed 40 product refreshes globally since the beginning of the year
The company's continued momentum demonstrates the success of its product refresh strategy, particularly in attracting Millennial and Gen-Z consumers.
American Express Travel has unveiled its 2025 Trending Destinations list, featuring ten must-visit locations tailored for Millennial and Gen Z travelers. The list, based on global American Express Card Member travel bookings and expert insights, includes diverse destinations such as Brisbane, Australia; Brittany, France; and Moab, Utah.
To enhance travel experiences, American Express has expanded The Hotel Collection by 40%, now offering over 1,000 properties across 50 new destinations. Gold and Platinum Card Members booking through Amex Travel can enjoy benefits like room upgrades, early check-in, late check-out, and a $100 credit for eligible charges.
The company aims to provide comprehensive travel support through its global network of Travel Consultants, airport lounges, dining reservations via Resy, and extensive hotel programs.
American Express (NYSE: AXP) has announced a new collaboration with Boost Payment Solutions to provide commercial virtual Card processing services to U.S. merchants accepting American Express. Qualified merchants will have access to Boost Intercept®, Boost's patented Straight-Through Processing (STP) solution, at no additional cost. This initiative aims to streamline the acceptance of American Express virtual Cards and address challenges associated with manual processing.
The collaboration comes as virtual cards are expected to account for 52% of U.S. commercial card spend by 2025. Boost Intercept® automates the entire process, potentially leading to better cash-flow management and more efficient operations for suppliers. The solution can help reduce payment cycles, improve reconciliation efforts, and save time for finance teams.
American Express Company (NYSE: AXP) has announced a regular quarterly dividend of $0.70 per common share. The dividend will be payable on November 8, 2024, to shareholders of record as of October 4, 2024. This declaration was made by the company's Board of Directors, maintaining their commitment to returning value to shareholders through consistent dividend payments.
American Express (NYSE: AXP) has announced plans to host a live audio webcast of its third quarter 2024 earnings conference call on Friday, October 18, 2024, at 8:30 a.m. ET. The webcast will be accessible to the public through the company's Investor Relations website. Financial results and presentation materials will be released and posted on the website at approximately 7 a.m. ET before the conference call. An audio replay of the call will be available on the website following the event. This announcement provides investors and analysts with the opportunity to gain insights into American Express's financial performance for Q3 2024.
American Express (NYSE: AXP) and Knot, an Amex Ventures portfolio company, have launched a pilot feature to simplify adding payment information at select merchants. The feature allows select Amex customers to seamlessly add their card details for merchants like Bloomingdale's, Hilton, and Macy's. This collaboration leverages Knot's CardSwitcher™ technology and Amex's proprietary technology to enable secure sharing of payment data.
The partnership stems from Amex Ventures' Series A investment in Knot in 2023. It aims to solve common pain points for Card Members and merchants, enhancing convenience and reducing friction in online transactions. The feature requires no technical integration from merchants and allows customers to update card-on-file information instantly.
American Express (NYSE: AXP) has announced plans to open a new Centurion® Lounge at Salt Lake City International Airport (SLC) in 2025. The nearly 16,000 square foot lounge will be located in the new Concourse B as part of Phase 4 of The New SLC Airport Redevelopment program. The lounge will feature:
- An outdoor terrace with views of the Wasatch Mountains
- A full bar with alcoholic and non-alcoholic beverages
- A full-service coffee bar with local roasted beans
- A dedicated wellness room
- Locally inspired design elements and artwork
- Premium food offerings from an award-winning Resy chef
This expansion is part of American Express's commitment to supporting the Salt Lake City community and enhancing travel experiences for Card Members.
American Express (NYSE: AXP) has announced its participation in two upcoming investor conferences. On September 4, 2024, Anna Marrs, Group President of Global Commercial Services and Credit & Fraud Risk, will join a fireside chat at the 25th Annual Scotiabank Financials Summit at 11:50 a.m. ET. She will address questions about the commercial payments landscape and AXP's commercial business.
On September 11, 2024, CFO Christophe Le Caillec will participate in the Barclays Global Financial Services Conference at 9:00 a.m. ET, discussing the company's business strategy and financial performance. Live audio webcasts of both events will be available on the AXP Investor Relations website, with audio replays accessible after each event.
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