- Trading
- Trading
- Markets
- Markets
- Products overview
- Forex
- Commodities
- Metals
- Indices
- Shares
- Cryptocurrencies
- Treasuries
- ETFs
- Accounts
- Accounts
- Compare our accounts
- Our spreads
- Funding & withdrawals
- Volume rebates
- Open account
- Try free demo
- Platforms & tools
- Platforms & tools
- Platforms
- Platforms
- Platforms overview
- MetaTrader 4
- MetaTrader 5
- MetaTrader copy trader
- cTrader
- cTrader copy trading
- Mobile trading platforms
- GO WebTrader
- PAMM
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Education
- Education
- Resources
- Resources
- News & analysis
- Education hub
- Economic calendar
- Earnings announcements
- Help & support
- Help & support
- About
- About
- About GO Markets
- Our awards
- Sponsorships
- Client support
- Client support
- Contact us
- FAQs
- Quick support
- Holiday trading hours
- Maintenance schedule
- Fraud and scam awareness
- Legal documents
- Trading
- Trading
- Markets
- Markets
- Products overview
- Forex
- Commodities
- Metals
- Indices
- Shares
- Cryptocurrencies
- Treasuries
- ETFs
- Accounts
- Accounts
- Compare our accounts
- Our spreads
- Funding & withdrawals
- Volume rebates
- Open account
- Try free demo
- Platforms & tools
- Platforms & tools
- Platforms
- Platforms
- Platforms overview
- MetaTrader 4
- MetaTrader 5
- MetaTrader copy trader
- cTrader
- cTrader copy trading
- Mobile trading platforms
- GO WebTrader
- PAMM
- Premium trading tools
- Premium trading tools
- Tools overview
- VPS
- Genesis
- Education
- Education
- Resources
- Resources
- News & analysis
- Education hub
- Economic calendar
- Earnings announcements
- Help & support
- Help & support
- About
- About
- About GO Markets
- Our awards
- Sponsorships
- Client support
- Client support
- Contact us
- FAQs
- Quick support
- Holiday trading hours
- Maintenance schedule
- Fraud and scam awareness
- Legal documents
- Home
- News & Analysis
- Shares and Indices
- American Express sets a new full year revenue record, raises outlook – the stock is up
- Home
- News & Analysis
- Shares and Indices
- American Express sets a new full year revenue record, raises outlook – the stock is up
- Founded: 1850
- Headquarters: 200 Vesey Street Manhattan, New York City, NY 10285, United States
- Number of employees: 77,300 (2022)
- Industry: Banking, Payment card services
- Key people: Stephen J. Squeri (Chairman & CEO), Jeffrey C. Campbell (Executive VP & CFO)
- 5 day: +8.90%
- 1 month: +6.47%
- 3 months: +41.16%
- Year-to-date: +6.47%
- 1 year: +15.76%
- BMO Capital Markets: $157
- Deutsche Bank: $235
- Robert W. Baird: $190
- JP Morgan Chase & Co.: 205
- Stephens: $193
- The Goldman Sachs Group: $205
- Barclays: $184
- TD Cowen: $158
- Citigroup: $154
- Piper Sandler Companies: $151
- Morgan Stanley: $175
- Royal Bank of Canada: $185
- HSBC: $181
- Oppenheimer: $175
- Bank of America: $202
- Volatility never sleeps. Trade over earnings releases as they happen outside of main trading hours
- Reduce your risk and hedge your existing positions ahead of a new trading day
- Extended trading hours on popular US stocks means extended opportunities
News & AnalysisNews & AnalysisAmerican Express sets a new full year revenue record, raises outlook – the stock is up
29 January 2024 By Klavs ValtersAmerican Express Company (NYSE: AXP) announced fourth quarter of 2023 and full year financial results before the market opened in the US on Friday, ending a busy week of earnings.
The US banking and payment card services company achieved revenue of $15.799 billion vs. $16.003 billion. Revenue grew by 11% vs. the year prior.
Earnings per share (EPS) reported at $2.62 vs. $2.639 pe share estimate. EPS was up by 27% year-over-year.
American Express set a new full year revenue record at $60.5 billion – up by 14% vs. 2022. Full year EPS reached $11.21 per share – an 14% year-over-year.
The company also announced plans to increase its quarterly dividend to $0.70 per common share, up from $0.60 per share.
Company overview
CEO commentary
”We delivered record revenues and profits in 2023, building on the momentum we’ve achieved since we announced our growth plan in January 2022. We continued to drive strong customer engagement, and demand for our premium products remained robust. We added 12.2 million new proprietary cards in the year, bringing the total number of cards-in-force issued on our global network to over 140 million,” Stephen J. Squeri, CEO of American Express commented on the latest results.
Squeri also looked at the year ahead, setting expectations for investors: ”Based on the momentum in our business, we are providing full-year 2024 guidance for revenue growth of 9 percent to 11 percent and EPS of $12.65 to $13.15. Looking ahead, we continue to run the business with a focus on our aspiration of revenue growth of 10 percent plus and mid-teens EPS growth.”
Stock reaction
The share price rose by over 7% on Friday, trading at $201.43 a share.
Stock performance
American Express stock price targets
American Express Company is the 86th largest company in the world with a market cap of $145.67 billion, according to CompaniesMarketCap.
You can trade American Express Company (NYSE: AXP) and many other stocks from the NYSE, NASDAQ, HKEX and ASX with GO Markets as a Share CFD on the MetaTrader 5 platform. To find out more, go to ”Trading” then select ”Share CFDs”.
GO Markets offers pre-market and after-market trading on popular US Share CFDs.
Why trade during extended hours?
Sources: American Express Company, TradingView, MarketWatch, MarketBeat, CompaniesMarketCap
Ready to start trading?
Disclaimer: Articles are from GO Markets analysts and contributors and are based on their independent analysis or personal experiences. Views, opinions or trading styles expressed are their own, and should not be taken as either representative of or shared by GO Markets. Advice, if any, is of a ‘general’ nature and not based on your personal objectives, financial situation or needs. Consider how appropriate the advice, if any, is to your objectives, financial situation and needs, before acting on the advice. If the advice relates to acquiring a particular financial product, you should obtain and consider the Product Disclosure Statement (PDS) and Financial Services Guide (FSG) for that product before making any decisions.
Next Article
The Week Ahead – Volatility set to return with FOMC, BoE and NFP ahead
FX traders have a bumper week of major economic announcements to navigate, with markets in a holding pattern awaiting the pivotal January Federal Reserve meeting, adding to that a Bank of England policy meeting, CPI readings out of Australia and Europe topped off by the US non-farm employment report. The Charts to Watch: AUDUSD – Aussie CPI...
January 29, 2024Read More >Previous Article
Intel beats estimates, but future outlook falls short – the stock dips in the after-hours
US technology giant, Intel Corporation (NASDAQ: INTC), reported Q4 2023 financial results on Thursday. World’s largest semiconductor company by r...
January 29, 2024Read More >News and Analysis
Join our mailing list to receive market news and monthly newsletters, delivered directly to our inbox.