Today, American Express reported a full-year net income of $10.1 billion, or $14.01 per share, up 9% compared with $8.4 billion, or $11.21 per share, a year ago.
Stephen J. Squeri, American Express Chairman and CEO told investors, “2024 was another strong year for American Express. We also saw record levels of annual Card Member spending, record net card fee revenues, and a record 13 million new card acquisitions, and we continued to add millions of merchant locations to our network globally.”
“We exited the year with increased momentum, with billings growth accelerating to 8 percent in the fourth quarter, driven by stronger spending from our consumer and commercial customers during the holiday season. We maintained our best-in-class credit performance and disciplined expense management throughout the year.”
The company projects a revenue growth of up to 10% in FY 2025, with plans to increase quarterly dividend by 17%.
Looking forward, Squeri says, “As we prepare to celebrate the 175th anniversary of American Express in March, we will continue to build on our history of growth and innovation by investing in our premium value propositions, coverage, marketing, technology, and talent. I am confident that we can sustain our strong momentum over the long term, driven by the many attractive opportunities we see across our premium customer base, particularly with Millennial and Gen Z consumers and in key international markets, along with our operating expense leverage which enables us to continue investing at high levels to drive growth.”
By CEO NA Editorial Staff
