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 (NYSE: AXP) plans to open its 16th Centurion Lounge at Washington, D.C.’s Reagan National Airport and expand existing locations at Seattle-Tacoma and San Francisco airports by late 2022. The new DCA lounge will cover over 11,500 square feet and offer unique city-inspired amenities. The SEA lounge will triple in size while SFO will nearly double, both providing enhanced experiences for Card Members. A recent survey indicates that 62% of travelers feel comfortable flying domestically within 6 months, prompting this expansion to support travel benefits.
American Express (NYSE: AXP) CFO Jeffrey C. Campbell will speak at the KBW Fintech Payments Conference on February 23, at 8:50 a.m. ET. He will engage in a virtual Q&A session, discussing the company’s business strategy and financial performance. A live audio webcast will be available to the public on the American Express Investor Relations website, with an audio replay accessible after the event.
American Express is a global payments company that offers products and insights to enhance customer experiences and business success.
American Express (NYSE: AXP) has reintroduced the Rose Gold Card as a permanent design option for its U.S. Consumer Gold Card, responding to customer interest in customizable card designs. Alongside this launch, the company has introduced a $120 Uber Cash Benefit for Gold Card members, providing $10 monthly for rides and deliveries. In addition to dining rewards and other benefits, this initiative aims to enhance customer experience and retention. The card's design returns after positive feedback from prior limited-time offerings in 2018 and 2019.
American Express (NYSE: AXP) and Resy launched the Order In, Help Out campaign to encourage takeout orders, especially on #TakeoutTuesday. With over half of U.S. restaurant owners considering closing permanently due to the pandemic, the campaign aims to raise awareness of the importance of takeout, which generates over $700 million in daily sales for the industry. American Express is offering dining credits up to $220 for eligible Card Members and supporting restaurants through initiatives like fee relief on Resy.
American Express (AXP) announced the opening of its 14th Centurion Lounge at Denver International Airport (DEN) on February 1, 2021. The lounge spans over 14,000 square feet, offering a safe and comfortable environment for travelers. Guests will enjoy unique amenities such as a Craft Beer Bar featuring local brews, a menu curated by award-winning Chef Lachlan Mackinnon-Patterson, and a game room. Enhanced health measures are in place to ensure safety during this time of increased travel interest, with 49% of consumers planning to fly this summer.
American Express Company (NYSE: AXP) has elected Thomas J. Baltimore, Jr. to its Board of Directors, effective January 27, 2021. Baltimore is a seasoned leader in hospitality, possessing over 30 years of experience, including significant roles at Park Hotels & Resorts, which he has led since 2016. His expertise in capital markets and strategic management is expected to enhance American Express's board. Stephen J. Squeri, the CEO of American Express, emphasized the value Baltimore will bring as the company pursues long-term growth strategies.
American Express Company (NYSE: AXP) has announced dividends for its Series B and C Preferred Shares. The quarterly dividend for Series B is set at $9,325.22 per share, payable on February 16, 2021. Shareholders must be on record by February 5, 2021. For Series C, the dividend is $8,753.75 per share, payable on March 15, 2021, with a record date of March 1, 2021. This reflects the Company's commitment to providing returns to its shareholders.
American Express Company (NYSE: AXP) reported a fourth-quarter net income of $1.4 billion, or $1.76 per share, marking a 15% decline from $1.7 billion a year prior. Total revenues net of interest expense decreased 18% to $9.4 billion. The company noted strong credit performance with delinquencies and write-offs at low levels. Despite challenges, Amex sees a path to recovery and aims to return to its original EPS expectations by 2022. For the full year, net income was $3.1 billion, down 54% from $6.8 billion in 2019.
American Express (NYSE: AXP) has announced new offers for U.S. Consumer, Small Business, and Cobrand Card Members as well as small merchants, emphasizing support for pandemic recovery. The new offers include up to $180 in statement credits through PayPal and up to $1,700 in value through Amex Offers for eligible Consumer Platinum Card Members. Small Business Card Members can earn additional Membership Rewards points and receive $250 back on qualifying purchases. Furthermore, American Express continues to assist small merchants with discounts to bolster their digital presence.
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