Welcome to our dedicated page for American Express Co news (Ticker: AXP), a resource for investors and traders seeking the latest updates and insights on American Express Co 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 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.
Squarespace (NYSE: SQSP) reported strong Q2 2024 financial results, with total revenue growing 20% year-over-year to $296.8 million. Presence revenue increased by 25% to $215.4 million, while Commerce revenue grew 8% to $81.4 million. The company's net income rose to $6.1 million, compared to $3.7 million in Q2 2023. Cash flow from operating activities increased by 15% to $60.6 million.
Key metrics showed positive trends, with total unique subscriptions increasing 21% to over 5.2 million and average revenue per unique subscription (ARPUS) growing 3% to $225.45. Squarespace also announced agreements to go private with Permira and to sell Tock to American Express for $400 million.
American Express (NYSE: AXP) has updated its U.S. Consumer Gold Card with new benefits and a -edition White Gold Card design. The refresh includes:
1. A new $100 Resy Credit for eligible U.S. Resy restaurant purchases
2. An $84 annual Dunkin'® Credit
3. An updated $120 Dining Credit now including Five Guys
4. Expansion of The Hotel Collection to over 1,000 properties globally
These additions complement existing benefits like $120 Uber Cash, 4X points at restaurants worldwide, and 4X points at U.S. supermarkets. The annual fee will increase to $325 from $250, effective October 1, 2024, for existing members. A -time welcome offer of 60,000 Membership Rewards points is available for new eligible Card Members until November 6, 2024.
American Express (NYSE: AXP) reported strong Q2 2024 results, with net income of $3.0 billion and EPS of $4.15, up 44% year-over-year. Excluding a $0.66 gain from the sale of Accertify, adjusted EPS was $3.49, up 21%. Revenue reached a record $16.3 billion, up 8% (9% FX-adjusted). The company raised its full-year EPS guidance to $13.30-$13.80 from $12.65-$13.15 previously.
Key highlights include:
- Billed business up 5% (6% FX-adjusted) to $388.2 billion
- 3.3 million new card acquisitions
- 24th consecutive quarter of double-digit card fee revenue growth
- Excellent credit performance
- 15% increase in marketing investments planned
American Express (NYSE: AXP) is set to open its 29th Centurion Lounge at Ronald Reagan Washington National Airport (DCA) on July 17. The nearly 12,000 square foot lounge, located in Terminal 2 past the South Security Checkpoint, will feature:
- Dishes from three award-winning chefs: Michelle Bernstein, Ravi Kapur, and Michael Solomonov
- A specialty drink menu and wine list curated by Jim Meehan and Anthony Giglio
- Artwork from local artists celebrating D.C.'s history and culture
- Signature Centurion Lounge amenities including a conference room, phone room, workstations, and shower suite
The lounge will be open Sunday – Friday from 5:00 a.m. - 9:00 p.m. ET and Saturday from 5:00 a.m. - 7:00 p.m. ET, offering views of the airfield and Potomac River.
The Board of Directors of American Express (NYSE: AXP) has announced a quarterly dividend for its 3.550% Fixed Rate Reset Noncumulative Preferred Shares, Series D. The dividend amount is $9,072.22 per share, or $9.07222 per Depositary Share. Shareholders of record on September 1, 2024, will receive the dividend on September 16, 2024.
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