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) will hold a live audio webcast of its earnings conference call at 8:30 a.m. (ET) on January 26, 2021, to discuss its fourth-quarter and full-year 2020 financial results. The financial results, along with presentation materials, will be made available at 7 a.m. (ET) on the same day. The webcast can be accessed via the American Express Investor Relations website. This event provides a key opportunity for investors to evaluate the company's financial performance and outlook.
The Board of Directors of American Express Company (NYSE: AXP) has declared a quarterly dividend of $0.43 per common share. This dividend is payable on February 10, 2021, to shareholders of record on January 8, 2021. American Express continues to provide a range of payment services globally, enhancing customer experiences and business success.
American Express (NYSE: AXP) announced the finale of the American Express UNSTAGED series with a benefit concert featuring Shawn Mendes on December 6, 2020. This event, promoting Mendes' new album Wonder, aims to reconnect Card Members with exclusive music experiences amidst pandemic constraints. Attendees can RSVP for free or purchase exclusive packages, with a portion of ticket sales benefiting the Shawn Mendes Foundation. The series has successfully engaged fans globally, enhancing American Express's brand presence in entertainment during a time of limited in-person events.
American Express (NYSE: AXP) has launched its "100 for 100" program, selecting 100 Black women entrepreneurs to receive $25,000 grants and 100 days of resources including business education, mentorship, and marketing support. This initiative aligns with Amex's $1 billion plan to enhance representation and promote equality. Black women entrepreneurs are a fast-growing segment, founding 763 new businesses daily, yet face challenges in accessing necessary resources for success. The program aims to provide tailored support to empower these innovative business leaders.
American Express (NYSE: AXP) CEO Stephen J. Squeri will speak at the Goldman Sachs U.S. Financial Services Conference on December 8, 2020, at 9:20 a.m. ET. The virtual event will include a Q&A session focused on the company's business strategy and financial performance. A live audio webcast will be available to the public via the American Express Investor Relations website, with an audio replay accessible after the event. American Express is a global payments company that offers products, insights, and experiences for customers.
American Express (NYSE:AXP) has enhanced its Early Pay solution in the U.S., a supply chain payment platform aimed at large companies and their suppliers. This upgraded service, originally launched in 2018, offers improved digital payment capabilities, helping businesses optimize cash flow, capture early payment discounts, and streamline accounts payable processes. According to a study, automating early payments could yield up to $8.84 billion in savings for U.S. companies. The initiative reflects American Express's commitment to addressing B2B payment challenges and supporting digital transformation.
American Express (NYSE: AXP) CFO Jeffrey C. Campbell will speak at the Bank of America Securities Future of Financials Conference on November 10, 2020, at 1:40 p.m. (ET). The session will include a virtual Q&A focusing on 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. An audio replay will be accessible post-event.
American Express is a global payments company offering products and experiences that enhance customers' lives and support business success.
American Express (NYSE: AXP) partners with Uber to offer exclusive benefits for U.S. Consumer Platinum, Gold, and Green Card Members, aimed at enhancing at-home dining experiences. Effective immediately, Platinum, Gold, and Green Card Members receive a complimentary Eats Pass Membership for up to 12 months, valued at $119. Additionally, starting next year, Gold Card Members will gain $120 in annual Uber Cash for Uber Eats or rides. These initiatives stem from a shared commitment to meet consumer demands for food delivery, building on existing dining benefits to elevate customer experience.
American Express (NYSE: AXP) has appointed Charles Phillips to its Board of Directors, effective December 1, 2020. With extensive experience in the technology sector, Phillips has a proven track record of leading significant digital transformations. He co-founded Recognize, a technology investment firm, and previously served as CEO of Infor, enhancing its cloud capabilities. His background includes major roles at Oracle and Morgan Stanley. This appointment aims to leverage Phillips' insights to enhance strategic priorities and bolster growth initiatives.
American Express Company (AXP) reported third-quarter net income of $1.1 billion, or $1.30 per share, down from $1.8 billion, or $2.08 per share in Q3 2019. Total revenues net of interest expense fell to $8.8 billion, a 20% decline year-over-year. Provisions for credit losses dropped 24% to $665 million, reflecting lower net write-offs. Despite these declines, spending volumes showed signs of recovery, particularly in non-travel and entertainment sectors. The company maintained a strong liquidity position while cautious about ongoing pandemic impacts on the economy.
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