Reported about 9 hours ago
American Express has exceeded profit estimates for the second quarter, attributing its success to resilient spending from cardholders and a long-standing focus on affluent customers. Despite growing competition, particularly from Citigroup's upcoming premium card, AmEx executives are confident in their unique offerings and exclusive perks that foster customer loyalty. The company's total revenue rose by 9% to $17.9 billion, reflecting continued strong financial health among higher-income consumers, even amid economic uncertainties.
Source: YAHOO