Welcome to our dedicated page for American Express Company news (Ticker: AXP), a resource for investors and traders seeking the latest updates and insights on American Express Company 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) reported a robust fourth-quarter 2022, with revenue increasing 17% to a record $14.2 billion, driven by unprecedented Card Member spending. The company achieved full-year net income of $7.5 billion ($9.85 per share), though this marked a 9% decline year-on-year. Provisions for credit losses surged to $2.2 billion, reversing last year’s benefit, but credit metrics remained strong. Notably, AXP anticipates 2023 revenue growth of 15% to 17% and EPS of $11.00 to $11.40. The company plans a 15% dividend increase, from $0.52 to $0.60 per share.
American Express (AXP) has announced plans to acquire Nipendo, a platform that automates and streamlines B2B payment processes. This acquisition aims to enhance American Express's capabilities in creating an efficient end-to-end B2B payments network. The integration of Nipendo's technology is expected to strengthen Amex's offerings for buyers and suppliers, facilitating faster, more transparent transactions. The deal is subject to customary closing conditions and is anticipated to finalize within the quarter.
American Express Company (NYSE: AXP) will host a live audio webcast of its earnings conference call at 8:30 a.m. ET on January 27, 2023. The call will cover the company's fourth-quarter and full-year 2022 financial results. Financial results and presentation materials will be posted at around 7 a.m. ET on the American Express Investor Relations website. An audio replay will also be available after the call.
American Express (NYSE:AXP) has reopened the newly expanded Centurion Lounge at San Francisco International Airport (SFO), doubling its size to 16,000 square feet. The upgraded lounge features enhanced seating, two wine bars, and a seasonal menu from Ravi Kapur, a James Beard-nominated chef. Guests can enjoy specialty wine flights curated by Anthony Giglio. The facility aims to provide Card Members with a refreshing travel experience and is part of American Express's strategy to enhance its lounge network, with plans to open new locations at Reagan National Airport and Hartsfield-Jackson Atlanta Airport soon.
American Express announced the election of Deborah Platt Majoras to its Board of Directors, effective December 7, 2022. Majoras previously served as Chief Legal Officer at Procter & Gamble and has extensive legal and regulatory experience, including a term as Chair of the Federal Trade Commission. CEO Stephen J. Squeri highlighted her expertise in navigating complex environments and her advocacy for consumer protection as a significant asset for the Board.
The Board of Directors of American Express (NYSE: AXP) has announced a quarterly dividend of $0.52 per common share, with a payment date of February 10, 2023. Shareholders of record as of January 6, 2023 will be eligible to receive this dividend. This decision reflects the company's ongoing commitment to return value to its shareholders while maintaining a strong financial position.
American Express (NYSE: AXP) announced the reopening of its Leadership Academy for 2023, aiming to support nonprofit leaders in navigating current challenges. The six-month program will enroll 75 underrepresented leaders from the U.S., Canada, and Latin America, starting online in February and culminating in an in-person event in New York City from March 20-23. This year's theme is “Resilient Changemakers,” focusing on innovative skills and storytelling. American Express has invested approximately $100 million in the Academy since its inception in 2007.
American Express (NYSE:AXP) has launched Amex Business Link, a new B2B payments ecosystem that streamlines payment processes for businesses. This platform facilitates both card and non-card payments, allowing for efficient domestic and cross-border transactions. Key features include digital onboarding, lending solutions, and seamless integration with CRM and ERP systems. Currently, Amex Business Link serves over 500 businesses across five countries, providing enhanced payment management and insights for buyers and suppliers.
American Express (NYSE: AXP) and Square are expanding their partnership with the launch of a new credit card tailored for Square sellers, enhancing support for small businesses. The card will operate on the American Express network and integrate seamlessly with Square’s ecosystem, allowing small business owners to manage finances more effectively. This initiative aims to provide fair credit solutions, addressing challenges faced by sellers in accessing credit. Additional details regarding the card will be announced in the upcoming year.
American Express (NYSE: AXP) has launched the #ShopSmall Accelerator in partnership with TikTok, aimed at empowering small businesses to engage Gen Z shoppers. The initiative provides access to resources, tools, and a $100 TikTok advertising credit, effective from
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