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American Express Earnings Report Is In. Should You Buy?

On Friday, American Express (AXP) released its first quarterly earnings report. The company’s stock has jumped 8.57 points as a result.

With an increase of 3.95% in stock price, up now to $226 per share, AXP stock is doing well. Let’s break down the earnings report that was released today.

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The Q1 report for American express showed that the company beat earnings expectations. Earnings are up by 12.12% for the company, which is higher than analysts expected.

Last quarter, earnings for the credit card company had declined, falling 1.13% in a financial upset for American Express. In previous quarters over the last year, AXP actually exceeded expectations three times. It looks like the company is back in top form for the most recent quarter.

How much did American express bring in this quarter? From January to March of 2024, revenues for American express reached $15.8 billion. This exceeds the anticipated result by about 0.28%. The company is earning more now than it did last year during the same quarter.

Where to Expect AXP to Go from Here?

For the year so far, American Express stock has climbed by 16.1%, and it is notable that this is much higher than the average gain of the S&P 500 index where it is listed. That index has gained 5.1% since January of this year.

As AXP stock rises, American Express is positioned for its stock price to continue to shoot up over the next quarter. The company has proven it can weather high inflation rates and still make a strong profit and have its stock price shoot up after an earnings report. Even some of the biggest companies on the stock market have not been able to manage that this year.

Estimates place American express earnings for the next quarter at about $16.48 billion with a stock price increase of around $3.25 per share.

 

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ABOUT THE AUTHOR See More
Timothy St. John
Timothy St. John
Financial Writer - European & US Desks
Timothy St John is a seasoned financial analyst and writer, catering to the dynamic landscapes of the US and European markets. Boasting over a decade of extensive freelance writing experience, he has made significant contributions to reputable platforms such as Yahoo!Finance, business.com: Expert Business Advice, Tips, and Resources - Business.com, and numerous others. Timothy's expertise lies in in-depth research and comprehensive coverage of stock and cryptocurrency movements, coupled with a keen understanding of the economic factors influencing currency dynamics. Timothy majored in English at East Tennessee State University, and you can find him on LinkedIn.
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