American Express Q4 Profits Rise 12% on Strong Holiday Spending

The credit card giant saw record consumer spending and revenue growth, with affluent customers driving resilience amid economic uncertainty.

American Express reported a 12% increase in Q4 profit, reaching $2.17 billion, or $3.04 per share, compared to $1.93 billion, or $2.62 per share, in the same quarter last year.
Revenue grew 9% year-over-year to $17.18 billion, driven by strong holiday season spending on travel and online shopping.
The company recorded an 8% rise in billed business, totaling $408.4 billion, with affluent customers showing resilience to inflation and high borrowing costs.
Provisions for credit losses decreased to $1.3 billion from $1.4 billion a year earlier, reflecting improved credit quality and economic conditions.
American Express projects 2025 revenue growth of 8% to 10% and plans to increase its quarterly dividend from $0.70 to $0.82 per share.