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Jun 30, 2023
American Express Q2 2023 Earnings Report
American Express reported record revenue and earnings per share, both growing 12 percent over the prior year.
Key Takeaways
American Express reported a strong second quarter with record revenues of $15.1 billion, up 12% year-over-year, and earnings per share of $2.89, also up 12%. Card member spending reached a quarterly high, driven by growth in U.S. Consumer and International Card Member spending. The company reaffirmed its full-year 2023 revenue and EPS guidance.
Delivered fifth straight quarter of record revenues and achieved record earnings per share, each growing 12 percent over the prior year.
Card Member spending hit another all-time high, growing 8 percent on an FX-adjusted basis, driven by double-digit growth in U.S. Consumer and International Card Member spending.
Travel and Entertainment spending remained strong across customer categories and geographies, growing 14 percent on an FX-adjusted basis.
Over 70 percent of the new accounts acquired in the quarter were on fee-based products.
Forward Guidance
American Express reaffirmed the full-year 2023 guidance provided in January for revenue growth of 15 percent to 17 percent and EPS of $11.00 to $11.40.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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