American Express Beats Q3 Estimates and Raises Full-Year Guidance as Credit Holds Steady

Overview

• The company lifted the low end of its full-year sales and earnings outlook, guiding EPS to $15.20–$15.50 with revenue growth of 9%–10%.
• Management reported stable credit quality, with loans and receivables 30-plus days past due holding at 1.3% for a fifth straight quarter.
• Commentary on the quarter highlighted robust spending among younger customers.
• CEO Steve Squeri said the recently launched Platinum card has been a success.
• Shares jumped about 7% on the earnings day and are up roughly 17% year to date.