The company said total revenues net of interest expense for Q1 were $15,801 million (about $15.8 billion), up 11%, and diluted earnings per share were $3.33, up 39% from $2.40 a year earlier.

1. 01

   The company said total revenues net of interest expense for Q1 were $15,801 million (about $15.8 billion), up 11%, and diluted earnings per share were $3.33, up 39% from $2.40 a year earlier.

2. 02

   American Express said Billed Business for Q1 was $367.0 billion, up 6% (7% on an FX-adjusted basis), and new card acquisitions accelerated sequentially to 3.4 million accounts.

3. 03

   The company said its provisions for credit losses for Q1 were $1.3 billion, up from $1.1 billion a year earlier, and its total expenses were $11.4 billion, up from $11.1 billion. It said the expenses reflected a $196 million benefit from enhancements to the models used to estimate future Membership Rewards redemptions.

4. 04

   The company reaffirmed its full-year 2024 outlook for revenue growth of 9% to 11% and EPS of $12.65 to $13.15. It said the effective tax rate for Q1 was 22.5%, compared with 16.2% a year earlier.

Analysis scope · Filing body and confirmed press-release exhibitWe analyzed the filing body and confirmed exhibits. This is not a review of other exhibits, investor presentations or the full earnings call.

AI summarized the filing and translated the summary into English; it may differ from the original. For reference only, not investment advice. AI translated the published Korean report into English. Figures are copied as filed, not recalculated.

Original filing

The filing as submitted to SEC EDGAR. You can check the figures and statements of this summary against it.