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American Express Company Reports Impressive Revenue Growth in First Quarter of 2024

American Express Company reported first quarter of 2024 operating surplus of $15177 million


Published / Modified Apr 20 2024
Goran Soko / CSIMarket.com


The financial report for the first quarter of 2024 for American Express Company has shown impressive growth in revenue, profits, and earnings.
The company reported a revenue increase of 8.318% to $26.56 billion compared to $24.52 billion in the previous year.
Additionally, profits saw a significant elevation of 38.75% to $3.33 per share from $2.40 in the prior year reporting season.
These results are a testament to the company's strong performance and strategic decision-making.

In contrast to the previous quarter, revenue surged by 0.026% to $26.56 billion, and profits grew by 24.9% from $2.67 per share.
Earnings also increased by 34.2% to $2,437.000 million compared to $1,816.000 million reported in the fiscal first quarter of 2024 a year ago.
American Express Company also highlighted the improvement in profit margins, with a net margin rising to 9.17% and operating margin edging up to 57.13%. Operating earnings, however, only improved by 12.71% to $15177 million.

Moreover, the American Express Board of Directors approved a 17% increase in the quarterly dividend, signaling the company's commitment to delivering value to shareholders.
The quarterly dividend on the company's common stock has been raised to $0.70 per share, up from $0.60, in line with the company's strong financial performance.

Looking towards the future, the increase in the dividend and the company's solid financial performance indicate a positive outlook for American Express Company.
The stock has also recorded solid gains over the past week, reaching its 52-week high.
This demonstrates investor confidence in the company's growth prospects and strategic direction.

Overall, the first quarter financial report for 2024 paints a positive picture for American Express Company, with strong revenue growth, increased profits, and a focus on delivering value to shareholders.
As the company continues to drive business success, investors can look forward to continued growth and profitability in the future.



American Express's Asset Turnover

American Express's ROA



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