American Express ignites on Wall Street after the accounts











Photo credit © PivèsPictures


(Boursier.com) — American Express jumped 5% before trading on Wall Street. The group has just published its accounts and raised its dividend. AmEx surpassed $50 billion in annual revenue in 2022, with continued strong spending from its customer base. Revenue in the fourth quarter alone rose 17% to $14.2 billion, a record high, for earnings per share of $2.07. These figures come out solid, but a little short compared to the consensus. On the other hand, the guidance is better than expected. Total network volumes for the quarter ended improved by 12% to 413.3 billion. Quarterly net profit declined 9% to $1.57 billion, while annual net profit fell 7% to $7.51 billion. The group expects revenue growth of 15 to 17% for 2023, while EPS is estimated at between $11 and $11.4. The FactSet consensus was just 11% growth for $10.53 EPS.


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