American Express
first-quarter earnings disappointed as the company braced for debt struggles among credit card holders, even as revenue soared to an all-time high. The stock was slumping.
Amex (ticker: AXP) reported earnings of $2.40 a share in the first quarter—down from $2.73 a year ago—on record quarterly revenue of $14.28 billion, up from 11.74 billion in the first quarter of 2022. Analysts surveyed by FactSet had expected the group to report earnings per share of $2.66 on revenue of $13.98 billion.
