american express revenue 2022

The increase was primarily driven by increased Card Member spending. Credit metrics remained strong throughout the year and below pre-pandemic levels. This earnings release should be read in conjunction with the companys statistical tables for the fourth quarter 2022, available on the American Express Investor Relations website at http://ir.americanexpress.com and in a Form 8-K furnished today with the Securities and Exchange Commission. July 31, 2022. > > > Careers; Change Region . 77,300 people were employed by American Express at the end of 2022, up from 64,000 in 2021. For the full year, the company reported net income of $8.1 billion, or $10.02 per share, compared with net income of $3.1 billion, or $3.77 per share, a year ago. American Express Company (NYSE: AXP) today reported full-year net income of $7.5 billion, or $9.85 per share, compared with net income of $8.1 billion, or $10.02 per share, a year ago. An investor conference call will be held at 8:30 a.m. (ET) today to discuss fourth-quarter results. You can unsubscribe to any of the investor alerts you are subscribed to by visiting the unsubscribe section below. Select from one of the avaliable plan options and know how much you'll pay each month. Total expenses were $2.2 billion, up 10 percent from $2.0 billion a year ago, primarily reflecting higher customer engagement costs and increased compensation expenses. American Express Global Business Travel to Report Fourth Quarter and Full-Year 2022 Financial Results on . Corporate and Other reported a fourth-quarter pretax loss of $638 million, compared with a pretax loss of $207 million a year ago. american express delivers on 2022 growth plan with full-year revenue growth of 25% and earnings per share of $9.85. ET. Provisions for credit losses were $271 million, compared with $9 million a year ago. A replay of the conference call will be available later today at the same website address. computershare.com/investor. computershare.com/investor. factors beyond the companys control such as a further escalation of the war in Ukraine and other military conflicts, future waves of COVID-19 cases, the severity and contagiousness of new variants, severe weather conditions, natural disasters, power loss, disruptions in telecommunications, terrorism and other catastrophic events, any of which could significantly affect demand for and spending on American Express cards, delinquency rates, loan and receivable balances and other aspects of the companys business and results of operations or disrupt its global network systems and ability to process transactions. The increase reflected a reserve build of $269 million, compared with a net reserve release of $133 million a year ago, as well as higher net write-offs in the current quarter. (0.29%) $0.43. American Express's Profile, Revenue and Employees. Operating expenses also increased, primarily reflecting higher compensation costs and a net loss on Amex Ventures investments of $234 million in the quarter. American Express generates revenue from transactions occurring at partner merchants, as well as through annual membership fees and interest income. Fourth Quarter and Full-Year 2022 Highlights Revenue and Adjusted EBITDA Ahead of Full-Year 2022 Guidance . . Consolidated expenses for the full year were $33.1 billion, up 22 percent from $27.1 billion a year ago, reflecting increased costs driven by higher Card Member spending, higher marketing investments to continue building growth momentum, and higher usage of travel-related benefits. U.S. Consumer Services reported fourth-quarter pretax income of $1.3 billion, flat with the prior year. Factors that could cause actual results to differ materially from these forward-looking statements, include, but are not limited to, the following: A further description of these uncertainties and other risks can be found in American Express Companys Annual Report on Form 10-K for the year ended December 31, 2020, the Quarterly Reports on Form 10-Q for the quarters ended March 31, June 30 and September 30, 2021 and the companys other reports filed with the Securities and Exchange Commission. We ended 2022 with record revenues, which grew 25 percent from a year earlier, and earnings per share of $9.85, both well above the guidance that we provided when we introduced our long-term growth plan at the start of last year, despite a mixed economic environment, said Stephen J. Squeri, Chairman and Chief Executive Officer. Rank . Top 10 Spacex Competitors In 2022. The higher loss was primarily driven by a prior-year non-cash gain related to an increase in the total equity book value of Global Business Travel Group, as well as a larger net loss on Amex Ventures investments in the current quarter. The consolidated effective tax rate was 25.5 percent, up from 22.6 percent a year ago. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, instagram.com/americanexpress, linkedin.com/company/american-express, twitter.com/americanexpress, and youtube.com/americanexpress. The increase primarily reflected growth in Card Member spending compared to the prior year. (212) 640-2000, Computershare American Express Co's quarterly card spending soared to a record as pandemic-weary travelers shrugged off rising airfare to throng airports, helping the company raise its annual revenue forecast . Consolidated expenses were $11.3 billion, up 15 percent from $9.8 billion a year ago. Longer term, as the economy reaches a steady state, our aspiration is to achieve . American Express has a nearly 19% share of the domestic credit card market. related investing news Americans are spending despite high inflation. The increase in customer engagement costs was driven by higher network volumes and increased usage of travel-related benefits, and partially offset by lower marketing expenses in the current quarter. The company believes the presentation of information on an FX-adjusted basis is helpful to investors by making it easier to compare the companys performance in one period to that of another period without the variability caused by fluctuations in currency exchange rates. The increase reflected a reserve build of $87 million, compared with a net reserve build of $3 million a year ago, as well as higher net write-offs in the current quarter. American Express net income for the twelve months ending December 31, 2022 was $7.400B, a 6.53% decline year-over-year. Sources: Bloomberg; S&P Global. American Express is a globally integrated payments company, providing customers with access to products, insights and experiences that enrich lives and build business success. Michele Batchelor Director, Corporate Affairs & International Card Services reported a fourth-quarter pretax loss of $15 million, compared with pretax income of $40 million a year ago. Environmental, Social, and Governance reports, https://www.businesswire.com/news/home/20230127005020/en/. You can sign up for additional alert options at any time. American Express shared Friday its first quarter 2022 earnings report, ending the period of March 31, 2022. Consolidated provisions for credit losses for the full year were $2.2 billion, compared with a benefit of $1.4 billion a year ago. A further description of these uncertainties and other risks can be found in American Express Companys Annual Report on Form 10-K for the year ended December 31, 2021, Quarterly Reports on Form 10-Q for the quarters ended March 31, June 30 and September 30, 2022 and the companys other reports filed with the Securities and Exchange Commission. 10+ years of experience in leadership in Enterprise sales, Program management project management) from strategising new projects and working on multiple programs to create various strategy for seller level at market place. View the latest American Express Co. (AXP) stock price, . By Bram Berkowitz - Sep 16, 2022 at 5:45AM Key Points. "We ended 2022 with record revenues, which grew 25 percent from a year earlier, and earnings per share of $9.85, both well above the guidance that we provided when we introduced our long-term growth plan at the start of last year, despite a mixed economic environment," said Stephen J. Squeri, Chairman and Chief Executive Officer. Total expenses were $2.8 billion, up 27 percent from $2.2 billion a year ago, primarily reflecting higher customer engagement costs and operating expenses. The company said Tuesday that revenue in the fourth quarter soared 30% . To opt-in for investor email alerts, please enter your email address in the field below and select at least one alert option. American Express' Revenue Breakdown (2017-2022) You need Pro Plan to access KPI data. NEW YORK, October 21, 2022--American Express Company (NYSE: AXP) today reported third-quarter net income of $1.9 billion, or $2.47 per share, compared with net income of $1.8 billion, or $2.27 per . The increase reflected a reserve build of $269 million, compared with a net reserve release of $133 million a year ago, as well as higher net write-offs in the current quarter. American Express Global Business Travel reports on the industry trends and developments hat will impact your business. the companys ability to achieve its 2022 earnings per common share (EPS) outlook, grow earnings in the future and execute on its new growth plan, which will depend in part on revenue growth, credit performance and the effective tax rate remaining consistent with current expectations and the companys ability to continue investing in customers, brand and talent, controlling operating expenses, effectively manage risk and executing its share repurchase program; any of which could be impacted by, among other things, the factors identified in the subsequent paragraphs as well as the following: the extent and duration of the effect of the pandemicon the economy, inflation, consumer confidence, consumer and business spending, and customer behaviors, such as with respect to travel, dining, shopping and in-person events; the impact on consumers and businesses as forbearance and government support programs end; the continued stress on businesses due to containment measures, operational changes, supply chain issues and staffing shortages; issues impacting brand perceptions and the companys reputation; the impact of any future contingencies, including, but not limited to, restructurings, investment gains, impairments, changes in reserves, legal costs, the imposition of fines or civil money penalties and increases in Card Member reimbursements; impacts related to new or renegotiated cobrand and other partner agreements; and the impact of regulation and litigation, which could affect the profitability of the companys business activities, limit the companys ability to pursue business opportunities, require changes to business practices or alter the companys relationships with partners, merchants and Card Members; the companys ability to achieve its 2022 revenue growth outlook, its revenue growth expectations for 2023 and its revenue growth aspirations for 2024 and beyond, which could be impacted by, among other things, uncertainty regarding the continued spread of COVID-19 (including new variants) and the availability, distribution and use of effective treatments and vaccines; a deterioration in global economic and business conditions; consumer and business spending not growing in line with expectations, including Goods & Services spending not continuing to show strong growth and Travel & Entertainment spending not recovering through 2022 and 2023 as expected; prolonged measures to contain the spread of COVID-19 (including travel restrictions), concern of the possible imposition of further containment measures or premature easing of such containment measures, any of which could further exacerbate the effects on business activity and the companys Card Members, partners and merchants; health concerns associated with the pandemic continuing to affect customer behaviors, spending levels and preferences, and travel patterns and demand even after containment measures are lifted; the amount and efficacy of investments in share, scale and relevance; growth in Card Member loans and the yield on Card Member loans not remaining consistent with current expectations; the average discount rate changing by a greater or lesser amount than expected; an inability of business partners to meet their obligations to the company and the companys customers due to slowdowns or disruptions in their businesses, bankruptcy or liquidation, or otherwise; and the companys inability to address competitive pressures and implement its strategies and business initiatives, including within the premium consumer space, commercial payments, the global merchant network and digital environment; future credit performance, the level of future delinquency and write-off rates and the amount and timing of future reserve builds and releases, which will depend in part on changes in consumer behavior that affect loan and receivable balances (such as paydown and revolve rates); macroeconomic factors such as unemployment rates, GDP and the volume of bankruptcies; the ability and willingness of Card Members to pay amounts owed to the company, particularly as forbearance and government support programs end; the enrollment in, and effectiveness of, hardship programs and troubled debt restructurings; the performance of accounts as they graduate and exit from financial relief programs; collections capabilities and recoveries of previously written-off loans and receivables; and governmental actions that provide forms of relief with respect to certain loans and fees, such as limiting debt collections efforts and encouraging or requiring extensions, modifications or forbearance; net interest income and the growth rate of loans outstanding being higher or lower than current expectations, which will depend on the behavior of Card Members and their actual spending, borrowing and paydown patterns; the companys ability to effectively manage risk and enhance Card Member value propositions; changes in benchmark interest rates; changes in capital and credit market conditions and the availability and cost of capital; credit actions, including line size and other adjustments to credit availability; and the effectiveness of the companys strategies to capture a greater share of existing Card Members spending and borrowings, and retain and attract new customers; the actual amount to be spent on marketing in 2022 and beyond, which will be based in part on continued changes in the macroeconomic and competitive environment and business performance; managements identification and assessment of attractive investment opportunities and the receptivity of Card Members and prospective customers to advertising and customer acquisition initiatives; the companys ability to balance expense control and investments in the business; and managements ability to realize efficiencies and optimize investment spending; the actual amount to be spent on Card Member rewards and services and business development, and the relationship of these variable customer engagement costs to revenues, which could be impacted by continued changes in macroeconomic conditions and Card Member behavior as it relates to their spending patterns (including the level of spend in bonus categories), the redemption of rewards and offers (including travel redemptions) and usage of travel-related benefits; the costs related to reward point redemptions; inflation; further enhancements to product benefits to make them attractive to Card Members and prospective customers, potentially in a manner that is not cost effective; new and renegotiated contractual obligations with business partners; and the pace and cost of the expansion of the companys global lounge collection; the ability of the company to control its operating expenses and the actual amount the company spends on operating expenses in 2022 and beyond, which could be impacted by, among other things, salary and benefit expenses to attract and retain talent; costs due to new hybrid working arrangements; supply chain issues; a persistent inflationary environment; managements decision to increase or decrease spending in such areas as technology, business and product development, sales force, premium servicing and digital capabilities depending on overall business performance; the companys ability to innovate efficient channels of customer interactions; restructuring activity; fraud costs; information security or compliance expenses or consulting, legal and other professional services fees, including as a result of litigation or internal and regulatory reviews; the level of M&A activity and related expenses; the payment of civil money penalties, disgorgement, restitution, non-income tax assessments and litigation-related settlements; impairments of goodwill or other assets; and the impact of changes in foreign currency exchange rates on costs; net card fees not performing consistent with current expectations, which could be impacted by, among other things, a deterioration in macroeconomic conditions impacting the ability and desire of Card Members to pay card fees; higher Card Member attrition rates; the pace of Card Member acquisition activity; and the companys inability to address competitive pressures, develop attractive value propositions and implement its strategy of refreshing card products and enhancing benefits and services; the average discount rate not performing consistent with current expectations, including as a result of further changes in the mix of spending by location and industry (including the level of T&E spending), merchant negotiations (including merchant incentives, concessions and volume-related pricing discounts), competition, pricing regulation (including regulation of competitors interchange rates) and other factors; the companys tax rate not remaining consistent with current levels, which could be impacted by, among other things, changes in tax laws and regulation, the companys geographic mix of income, unfavorable tax audits and other unanticipated tax items; changes in the substantial and increasing worldwide competition in the payments industry, including competitive pressure that may materially impact the prices charged to merchants that accept American Express cards, the ability of the company to maintain the Platinum card franchises leadership in the premium space, competition for new and existing cobrand relationships, competition from new and non-traditional competitors and the success of marketing, promotion and rewards programs; changes affecting the companys plans regarding the return of capital to shareholders, including increasing the level of the dividend, subject to approval by the companys Board of Directors, which will depend on factors such as capital levels and regulatory capital ratios; changes in the stress testing and capital planning process and new guidance from the Federal Reserve; the companys results of operations and financial condition; the companys credit ratings and rating agency considerations; and the economic environment and market conditions in any given period; the companys ability to expand its leadership in the premium consumer space, which will be impacted in part by competition, brand perceptions (including perceptions related to merchant coverage) and reputation and the ability of the company to develop and market value propositions that appeal to Card Members and new customers and offer attractive services and rewards programs, which will depend in part on ongoing investments, addressing changing customer behaviors, new product innovation and development, Card Member acquisition efforts and enrollment processes, including through digital channels, and infrastructure to support new products, services and benefits; the ability of the company to build on its leadership in commercial payments, which will depend in part on competition, the willingness and ability of companies to use credit and charge cards for procurement and other business expenditures as well as use the companys products for financing needs, perceived or actual difficulties and costs related to setting up card-based B2B payment platforms, the ability of the company to offer attractive value propositions to potential customers, the companys ability to enhance and expand its payment and lending solutions and continue the rollout of the Kabbage platform to the companys small business customers; the ability of the company to execute on its plans to expand merchant coverage globally, which will depend in part on the success of the company, OptBlue merchant acquirers and GNS partners in signing merchants to accept American Express, which could be impacted by our value propositions offered to merchants and merchant acquirers for card acceptance, as well as the awareness and willingness of Card Members to use American Express cards at merchants, the companys ability to increase coverage in priority international regions and execute on our plans in China and technological developments, including capabilities that allow greater digital integration; the ability of the company to stay on the leading edge of technology and digital payment solutions, which will depend on our success in evolving our products and processes for the digital environment, developing new features in the Amex app and enhancing our digital channels, building partnerships and executing programs with other companies, effectively utilizing artificial intelligence to address servicing and other customer needs, and supporting the use of our products as a means of payment through online and mobile channels, all of which will be impacted by investment levels, new product innovation and development and infrastructure to support new products, services and benefits; our ability to implement our ESG strategies and initiatives, which depend in part on the amount and efficacy of our investments in product innovations, marketing campaigns, our supply chain and operations, and philanthropic, colleague and community programs; customer behaviors; and the cost and availability of solutions for a low carbon economy; a failure in or breach of the companys operational or security systems, processes or infrastructure, or those of third parties, including as a result of cyberattacks, which could compromise the confidentiality, integrity, privacy and/or security of data, disrupt its operations, reduce the use and acceptance of American Express cards and lead to regulatory scrutiny, litigation, remediation and response costs, and reputational harm; legal and regulatory developments, which could affect the profitability of the companys business activities; limit the companys ability to pursue business opportunities or conduct business in certain jurisdictions; require changes to business practices or alter the companys relationships with Card Members, partners, merchants and other third parties, including its ability to continue certain cobrand relationships in the EU; exert further pressure on the average discount rate and the companys GNS business; result in increased costs related to regulatory oversight, litigation-related settlements, judgments or expenses, restitution to Card Members or the imposition of fines or civil money penalties; materially affect capital or liquidity requirements, results of operations or ability to pay dividends; or result in harm to the American Express brand; and. 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