American Express Company - AXP STOCK NEWS

American Express (AXP) and Delta Air Lines (DAL) launched a limited-edition credit card design made from retired Delta Boeing 747 aircraft. Available from June 16 to August 3, 2022, the card offers Card Members exclusive augmented reality content and honors aviation history. The design incorporates 25% metal from the retired aircraft, known as the 'Queen of the Skies.' With more than half of consumers planning to travel more this summer, the partnership emphasizes premium travel benefits for Delta loyalists, including complimentary lounge access and limited-time offers for earning miles.

American Express (NYSE: AXP) has expanded its $120 Dining Credit program by adding three new partners: Goldbelly, Wine.com, and Milk Bar, enhancing options for Gold Card Members. Cardholders can earn up to $10 in monthly statement credits at these and other participating locations like Grubhub and The Cheesecake Factory. To celebrate, AXP will host 'Amex Gold x Resy Present: The Boardwalk' event on July 9, 2022, at Santa Monica Pier, featuring popular restaurants and activities. The Dining Credit program has grown in popularity since its 2018 launch.

American Express Company (NYSE: AXP) has announced its participation in several investor conferences. On June 2, 2022, CEO Stephen J. Squeri will discuss the company's strategies at the Bernstein’s 38th Annual Strategic Decisions Conference at 9:00 a.m. (ET). Additionally, on June 15, 2022, CFO Jeffrey C. Campbell will present at the Morgan Stanley U.S. Financials Conference at 11:00 a.m. (ET). Live audio webcasts will be available on the American Express Investor Relations website.

American Express (NYSE: AXP) has partnered with Versapay to enhance payment processing for suppliers using American Express virtual cards. This collaboration aims to accelerate cash flow and improve customer experiences in the invoice-to-cash cycle. Through Versapay’s automation solutions, suppliers can automate virtual card payment processing, leading to improved efficiency. The program also offers suppliers exclusive pricing for Versapay services, helping streamline the accounts receivable process and enhance overall payment experiences.

The Board of Directors of American Express Company (NYSE: AXP) has declared a quarterly dividend of $0.52 per common share, payable on August 10, 2022, to shareholders of record on July 1, 2022. Additionally, a dividend of $9,072.22 per share on the Company’s 3.550% Fixed Rate Reset Noncumulative Preferred Shares, Series D, is also declared, payable on June 15, 2022, to shareholders of record on June 1, 2022.

American Express (NYSE: AXP) has partnered with Billtrust (NASDAQ: BTRS) to enable suppliers to efficiently accept American Express virtual cards. This collaboration streamlines the accounts receivable process, allowing suppliers to automate payments and gain real-time visibility of their invoices and cash flow. The integration aims to enhance digital payment options in response to increasing demand for efficient payment solutions, moving businesses away from traditional paper-based methods. This partnership highlights both companies' commitment to improving supplier and customer experiences.

American Express Company (NYSE: AXP) Vice Chairman Douglas E. Buckminster will participate in the MoffettNathanson Payments Summit in New York on Wednesday, May 11, at 11:00 a.m. EDT. During the event, he will engage in a question-and-answer session focused on the company's global consumer services business. A live audio webcast of the session will be available on the American Express Investor Relations website, with a replay accessible afterward.

American Express Company (NYSE: AXP) reported a first-quarter net income of $2.1 billion, or $2.73 per share, slightly down from $2.2 billion or $2.74 per share a year earlier. Total revenues net of interest expense rose by 29% to $11.7 billion, driven by a 35% increase in Card Member spending. The company reaffirmed its guidance for 2022, expecting revenue growth of 18-20% and earnings per share between $9.25 and $9.65. Provisions for credit losses showed a benefit of $33 million, significantly lower than the previous year's $675 million benefit.