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7/23, 1:02 PM (Source: TeleTrader)
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American Express Q2 revenue up 33% YoY at $10.2B

The American Express Co. stated on Friday that its second-quarter revenue reached $10.2 billion increasing 33% when compared to the same period last year.

At the same time, its diluted earnings per share skyrocketed from $0.29 to $2.80, marking an 865% per annum gain. The company's net income also jumped, rising 787% year-over-year to reach $2.28 billion.

Chairman and CEO of American Express Stephen Squeri commented on the upbeat results saying: "Our strong second-quarter results show that the steps we have taken to manage the company through the pandemic and our strategy of investing to rebuild our growth momentum are paying off. We acquired 2.4 million new proprietary cards in the quarter while continuing to retain Card Members at rates above pre-pandemic levels."

Shares of the company increased 3.28% in the premarket trade following the release of the optimistic report.

Breaking the News / OL