American Express Company - AXP STOCK NEWS

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.

American Express (NYSE: AXP) has launched a new initiative allowing U.S. Card Members to donate their Membership Rewards points to humanitarian charities aiding relief efforts in Ukraine and Europe, effective through June 15, 2022. Each dollar value of contributions using points will be matched by American Express. The initiative supports notable charities like UNICEF, American Red Cross, and others. This program builds upon previous efforts, including a $1 million donation for humanitarian aid.

American Express (NYSE:AXP) and i2c Inc. have announced a global agreement to enhance fintech capabilities on the Amex network. This collaboration focuses on creating a seamless platform for fintechs to develop innovative payment solutions worldwide. The Amex/i2c platform offers unique benefits, such as Amex Offers and exclusive ticket access, alongside fraud protection. Notable collaborations include new card offerings in Mexico and Puerto Rico, expanding the reach of American Express in North America and beyond, and enhancing its appeal to financial innovators.

American Express, in partnership with The New York Women’s Foundation, released the 2022 Ambitious Insights study highlighting women's relationship with ambition. The research found that 65% of women consider themselves ambitious, unchanged since 2020. However, only 56% view ambition as essential, a slight decline from 59%. The study reveals a significant confidence gap, with only 32% confident in achieving career ambitions despite 41% valuing them highly. Gen Z women show high aspirations, with 68% prioritizing ambitions. The findings emphasize the importance of support systems for women’s professional growth.

American Express Company (NYSE: AXP) will host a live audio webcast of its earnings conference call at 8:30 a.m. ET on April 22, 2022, to discuss first quarter 2022 financial results. The financial results and presentation materials will be posted on the company’s Investor Relations website at approximately 7 a.m. ET before the call. An audio replay will be available following the call. Investors can access the webcast through American Express Investor Relations.

American Express (NYSE: AXP) announced the continuation of its Backing Historic Small Restaurants Grant Program, providing $40,000 grants to 25 historic small restaurants across the U.S. The initiative aims to support restaurants impacted by the pandemic, acknowledging their role in community history and identity. With many restaurant operators uncertain about returning to normal, this program is designed to alleviate financial challenges, allowing recipients to enhance operations and recover financially. Applications open from March 21, 2022 to April 4, 2022.

American Express (NYSE:AXP) reveals in its 2022 Global Travel Trends Report that consumers are enthusiastic about travel, with 86% planning to spend the same or more than in pre-pandemic years. The report shows a 24% increase in global Card Member bookings in Q4 2021 compared to 2019. Key insights include 74% willing to book trips despite potential cancellations, 62% planning 2-4 trips this year, and 81% seeking brands that support local communities. As travel momentum builds, American Express Travel offers exclusive access and benefits for Card Members.

The Board of Directors of American Express Company (NYSE: AXP) has approved a $0.09 increase in the regular quarterly dividend, raising it to $0.52 per common share from $0.43. This marks a approximately 20 percent increase, showcasing the company's strong performance. The dividend is payable on May 10, 2022, to shareholders of record on April 8, 2022.