1/27, 1:07 PM (Source: TeleTrader)
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American Express: Q4 revenue up 17% to $14.2B

American Express Company reported on Friday that its revenue rose 17% year over year to record $14.18 billion in the fourth fiscal quarter of 2022. Net income and diluted earnings per common share were down 9% and 5%, respectively, to $1.57 billion and $2.07.

As for the full fiscal 2022, revenue was $52.86 billion, 25% higher than in 2021. Net income declined 7% to $7.5 billion and diluted earnings per common share decreased 2% to $9.85.

Revenue and EPS were "both well above the guidance that we provided when we introduced our long-term growth plan at the start of last year, despite a mixed economic environment," CEO Stephen Squeri noted. "Given our momentum, we expect 2023 revenue growth of 15 percent to 17 percent and earnings per share of $11.00 to $11.40." Company shares were 5.08% up in the premarket after the report was released.

Baha Breaking News (BBN) / MS